| 单词 | Classified Board |
| 释义 | Classified Board Also known as Staggered Board is one in which, the directors are placed into different classes and serve overlapping terms. Since only part of the board can be replaced each year, an outsider who gains control of a corporation may have to wait a few years before being able to gain control of the board. This slow replacement makes a classified board effectively delays takeovers. Sometimes known as a delay provision. |
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