staggered board of directors

staggered board of directors definition - finance
A board of directors whose members have terms that expire at different times. Staggered boards are one tactic used to prevent hostile takeovers, because any potential acquirer would have to wait longer to take control of the board. Staggered boards have become the norm in recent years.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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