Doğan wins governance award

ISTANBUL - Doğan News Agency

Doğan Chairwoman Yalçındağ (C) speaks during an Istanbul meeting yesterday. DHA photo

Doğan Holding, a major Turkish media company, received “The Company with Third Highest Corporate Governance Rating Score” award yesterday at the Fifth International Corporate Governance Summit” organized by the Corporate Governance Association of Turkey.

The Industrial Development Bank of Turkey (TSKB) scored the highest score, while TAV Airports Holding came in second place.

The awards were based on the rating scores of Istanbul Stock Exchange’s Corporate Governance Index companies, as of Dec. 31, 2011.

The awards are based on the methodology of the Capital Market Board (SPK) and aims to create awareness and promote the best practices of corporate governance in Turkey, according to the web site of the association.

“Adopting corporate governance principles makes the firms more stable against risks,” Arzuhan Doğan Yalçındağ, said Doğan chairwoman, at the summit, adding that Doğan was one of the first business groups to go public in 1993.

Speaking at the ceremony, Ümit Boyner, head of Turkish Industry & Business Association, said the SPK should become more transparent with more independent board members.