staggered terms

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Staggered Terms

An arrangement whereby only a certain number of members of a board of directors are elected in a given year. For example, a board of directors may have 10 members serving five year, staggered terms where two new members are elected each year. In addition to giving the board consistency in its membership, staggered terms makes hostile takeovers more difficult because the potential acquirer can replace only so many directors at a time.

staggered terms

Membership terms for a firm's directors that expire in different years. A firm with 12 directors might have 4-year terms with 3 seats up for election each year. Staggered terms make it more difficult for a raider to gain control of a board.
References in periodicals archive ?
With nine members, five-year terms, and staggered term start dates, each year's meeting provides the opportunity to welcome new members and their own unique and valued perspective on the work of JVIB.
The initial varied terms will create a staggered term structure; thereafter the chair and two (2) members-at-large shall be elected in the even-numbered years to serve a term of two (2) years or until their successors are elected.
Parentline Plus, a national charity that works with parents, also said staggered term times could prove costly for parents seeking extra childcare.
1<br> (4) TERMS- Each member of the Health Benefits Advisory Committee shall serve a 3-year term on the Committee, except that the terms of the initial members shall be adjusted in order to provide for a staggered term of appointment for all such members.
Supreme Court's Bar Admissions Committee: One lawyer to serve a two-year staggered term commencing July 1.
Leases at the port are of staggered term, with approximately 50% of the leases extending 10+ years, 17% extending between 5-10 years, and 33% extending between 1-5 years.
Supreme Court's Bar Admission Committee: One lawyer to serve a two-year staggered term commencing July 1.
Currently, a bill is making its way through the Texas Legislature that will amend the board members' terms to a three-year staggered term.
144 (Burke) abolishes the Opportunities for Ohioans with Disabilities Commission, Consumer Advisory Committee, and Governor's Council on People with Disabilities; establishes a state rehabilitation services council known as the Opportunities for Ohioans with Disabilities Council; and restores staggered terms of office for the employee members representing firefighters on the board of trustees of the Ohio Police and Fire Pension Fund.
It has seven commissioners who are unsalaried and serve five-year staggered terms.
Its governors are appointed by the president and confirmed by the Senate and serve 14-year staggered terms.
Appointed members serve staggered terms, ranging from one to four years, until they are reappointed or replaced by the Commissioner of the Bureau for Medical Services.