Staggered board of directors

Staggered board of directors

A board of directors divided into classes (typically three) elected for multiple-year terms, with classes coming up for re-election on a staggered basis. A staggered board may be used as a form of anti-takeover device. Also known as a Classified Board. See 'Anti-Takeover Provisions', 'Blank Cheque Preferred Stock', 'Poison Pill,' and 'Shark Repellent'.

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Industry/Domain: Financial services
Category: Private equity
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