Index compilers' CEOs voice concerns over dual-class shares

Hong Kong

THE chief executive officers at two of the world's largest index compilers have spoken out against companies using different share classes to give founders and executives greater voting rights.

Henry Fernandez, CEO of MSCI Inc, and FTSE Russell head Mark Makepeace both told Bloomberg Television on Friday that their clients were voicing concerns about the use of dual classes. Snap Inc's structure, which denies public shareholders any voting rights, has fuelled the debate, they said.