Staggered Board Of Directors (Noun)
Meaning
A board of directors a portion of whose members are elected each year instead of all members being elected annually.
Classification
Nouns denoting groupings of people or objects.
Examples
- The company's staggered board of directors ensured that only a portion of its members were up for election each year, providing stability and continuity in its leadership.
- A staggered board of directors can make it more difficult for activist investors to gain control of a company, as they would need to win multiple elections over several years.
- The staggered board of directors was implemented to prevent a complete overhaul of the company's leadership in a single year, which could have disrupted the business and impacted shareholder value.
- By having a staggered board of directors, the company was able to maintain a balance of experienced and new members, bringing fresh perspectives while still retaining institutional knowledge.
- The staggered board of directors was seen as a key factor in the company's ability to weather the economic downturn, as it allowed for a steady and consistent approach to decision-making.