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Finance Dictionary and Glossary of Investment Terms
Staggered board of directors
Definition 1.
Occurs when a portion of directors are elected periodically, instead of all at once. Board terms are often staggered in order to thwart unfriendly takeover attempts, since potential acquirers would have to wait longer before they could take control of a company's board through the normal voting procedure.
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Definition 2.
A board of directors only a part of which is elected each year, usually to discourage takeover attempts.
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