Shareholder Activism In Turkish Law

The concept of shareholder activism is defined as activities carried out by shareholders to influence a company for various purposes.¹ In this regard, shareholder activism may be conducted for a variety of purposes, such as influencing, directing, altering or improving a company’s shareholding and management structure, decision-making mechanisms, activities, policies, operations, strategies and performance; having a say in these matters; ensuring the company’s oversight and supervision; increasing the company’s market value; and strengthening its environmental, social and corporate governance (ESG) practices.² To achieve these objectives, Activist shareholders typically advance various requests, including removal of directors and appointment of new ones, detailed examination of financial statements, annual reports and audit reports, rejection of the release of directors and initiation of liability proceedings against directors, provision of information by the company regarding