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 ?
In contrast, staggered terms guarantee a long delay in the bidding process.
That leaves the current system in place, including the Bar's role in nominating candidates for four of the nine seats on each JNC and JNC members serving staggered terms.
The proxy also confirms Disney's intent to eliminate the staggered terms of its directors, another focus of shareholder grumbling.
The current Class I and Class III Trustees of each Trust, who serve staggered terms, were not up for election and remain in office.
This is the year that the term limits ax finally falls on the state Assembly and on half of the Senate, where staggered terms stretch out the impact.
The amendment will phase out the present three-year, staggered terms of directors and instead provide for the annual election of directors.
Supreme Court's Commission on Professionalism: Two lawyers to serve on this 22-member commission for four-year staggered terms commencing July 1.
The Fund's current Class I and III Trustees, who serve staggered terms, were not up for election and remain in office.
The Fund's current Class II and Class III Trustees, who serve staggered terms, were not up for election and remain in office.
Florida Bar Foundation Board of Directors: Two lawyers to serve three-year staggered terms, commencing July 1, on this 30-member board of directors which administers Florida's IOTA program.
The Bar appointees will also continue to serve staggered terms, while the gubernatorial picks will have tenures tied to the governor's term.
The Fund's current Class III and other Class I Trustees, who serve staggered terms, were not up for election and remain in office.