staggered board of directors(noun)
a board of directors a portion of whose members are elected each year instead of all members being elected annually
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.
The numerical value of staggered board of directors in Chaldean Numerology is: 2
The numerical value of staggered board of directors in Pythagorean Numerology is: 6
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"staggered board of directors." Definitions.net. STANDS4 LLC, 2018. Web. 19 Oct. 2018. <https://www.definitions.net/definition/staggered+board+of+directors>.