What does staggered board of directors mean?

Definitions for staggered board of directors
stag·gered board of direc·tors

This dictionary definitions page includes all the possible meanings, example usage and translations of the word staggered board of directors.

Princeton's WordNet

  1. staggered board of directorsnoun

    a board of directors a portion of whose members are elected each year instead of all members being elected annually

Wikipedia

  1. staggered board of directors

    Staggered elections are elections where only some of the places in an elected body are up for election at the same time. For example, United States senators have a six-year term, but they are not all elected at the same time. Rather, elections are held every two years for one-third of Senate seats. Staggered elections have the effect of limiting control of a representative body by the body being represented, but can also minimize the impact of cumulative voting. Many companies use staggered elections as a tool to prevent takeover attempts. Some legislative bodies (most commonly upper houses) use staggered elections, as do some public bodies, such as the Securities and Exchange Commission.

ChatGPT

  1. staggered board of directors

    A staggered board of directors refers to a corporate governance structure where board members serve overlapping terms instead of same-term elections. Typically, about one third of the directors are elected each year for three-year terms. This structure makes it more difficult for a hostile takeover as acquiring control over the board becomes challenging due to the fraction of directors up for election at any one time.

Wikidata

  1. Staggered board of directors

    A staggered board of directors or classified board is a prominent practice in US corporate law governing the board of directors of a company, corporation, or other organization in which only a fraction of the members of the board of directors is elected each time instead of en masse. Each group of directors falls within a specified "class"—e.g., Class I, Class II, etc.—hence the use of the term "classified" board. In publicly held companies, staggered boards have the effect of making hostile takeover attempts more difficult. When a board is staggered, hostile bidders must win more than one proxy fight at successive shareholder meetings in order to exercise control of the target firm. Particularly in combination with a poison pill, a staggered board that cannot be dismantled or evaded is one of the most potent takeover defenses available to U.S. companies. Institutional shareholders are increasingly calling for an end to staggered boards of directors—also called "declassifying" the boards. The Wall Street Journal reported in January 2007 that 2006 marked a key switch in the trend toward declassification or annual votes on all directors: more than half of the S&P 500 companies have declassified boards, compared with 47% in 2005.

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Numerology

  1. Chaldean Numerology

    The numerical value of staggered board of directors in Chaldean Numerology is: 2

  2. Pythagorean Numerology

    The numerical value of staggered board of directors in Pythagorean Numerology is: 6


Translations for staggered board of directors

From our Multilingual Translation Dictionary

  • consiglio di amministrazione sfalsatoItalian
  • consiliu de administrație eșalonatRomanian

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"staggered board of directors." Definitions.net. STANDS4 LLC, 2024. Web. 28 Mar. 2024. <https://www.definitions.net/definition/staggered+board+of+directors>.

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