Share on LinkedInShare on LinkedIn

ARTICLE · 03 FEBRUARY 2022

Independent Board Members

ELIG Gürkaynak Attorneys-at-Law
ELIG Gürkaynak Attorneys-at-Law
Contributor
ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law is an eminent, independent Turkish law firm based in Istanbul. The...

View firm profile
Explore more from ELIG Gürkaynak Attorneys-at-Law

Corporate governance principles are essential in order to protect benefits of minority shareholders and investors.

TurkeyCorporate/Commercial Law

I. Introduction

Corporate governance principles are essential in order to protect benefits of minority shareholders and investors. Appointment of independent members is one of the most important elements that ensure proper implementation of the corporate governance principles. As a part of corporate governance principles regulated under the capital market legislation, independent board members must be appointed by the companies who are expected to objectively supervise the company and enlighten the public if necessary. It is important to have an independent member who will execute his/her duties without being influenced in order to create reliable cooperation.

In light of the foregoing, Corporate Governance Communique No. II-17.1. ("Communique") stipulates mandatory provisions regarding appointment of the board of directors. For example; as per the Communique, the board of directors must consist of at least 5 (five) members, a majority of the members of the board

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See more popular content from