Doğan Holding’s 2011 corporate governance rating has been revised and increased from 8.59 to 9.03.
Doğan Holding’s rating was revised by SAHA Kurumsal Yönetim ve Kredi Derecelendirme Hizmetleri A.Ş., which holds an activity permit to conduct ratings as per the Capital Market Board (CMB) Corporate Governance Principles in Turkey. Doğan Holding’s rating increased from 8.59 (85.87%) to 9.03 (90.31%) out of 10.
Doğan Holding’s CEO, Yahya Üzdiyen, commented: “Companies have responsibilities regarding the expansion of welfare. We, the Doğan Holding Management, act with this consciousness. We conduct our business in a fair, transparent, accountable and responsible approach towards our stakeholders. Since 2009, when we were first included in the ISE’s Corporate Governance Index, our rating has increased each year. We have fully adopted the corporate governance-related legal adjustments which became effective at the end of 2011, and we currently implement a significant percentage of the non-mandatory principles, as well. The 9 out of 10 rating we received is a reflection of our commitment.”
Within the context of the principle resolution of the CMB in this respect, Doğan Holding’s final rating was determined with different weights in four sub-categories: Shareholders, Public Disclosure Transparency, Stakeholders, and Board of Directors.
What do the four sub-categories take into account?
Shareholders: Facilitating the exercise of shareholding rights, i.e. the right to obtain and inspect information, minority rights, the right to attend the general assembly, the right to vote, the right to profit shares and transfer of shares, and the principles of equal treatment of shareholders.
Public Disclosure and Transparency: Public disclosure principles and tools, public disclosure of the relations between the holding and the shareholders, Board of Directors and executives, disclosure of regular financial statements and reports, the function of independent audit, the concept of commercial secrets, insider trading, material events and other developments required to be disclosed publicly.
Stakeholders: The holding’s policy related to the stakeholders, supporting the participation of the stakeholders in the holding’s management, protection of the holding’s assets and the holding’s human resources policy, relations with the related parties, code of ethics, and social responsibility.
Board of Directors: The basic functions of the Board of Directors, the principles of operation and the duties and responsibilities of the Board, the composition and the election of the Board, financial rights afforded to the Board, the number, structure and independence of the committees created within the Board; executives.