Financial Times - Lexiconhttp://lexicon.ft.comTerm of the Day from the Financial Times Lexiconen(PICS-1.1 "http://www.classify.org/safesurf/" L gen true for "http://www.ft.com/" r (SS~~000 1))&copy The Financial Times Ltd 2017 'FT' and 'Financial Times' are trademarks of The Financial Times Ltd. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.client.support@ft.comTue, 16 Jun 2009 01:42:55 +0100Tue, 25 Apr 2017 22:13:36 GMTNewspapers15http://lexicon.ft.comhttp://lexicon.ft.comFinancial Timeshttp://im.media.ft.com/m/img/rss/RSS_Default_Image.gifhttp://lexicon.ft.comstaggered boardhttp://lexicon.ft.com/Term?term=staggered board<p>A staggered board is a governance practice in which only a fraction (typically a third) of the members of the board of directors is elected each year, rather than all at once.</p> <p>Practically, staggered boards have the effect of making hostile takeovers more difficult and are hence considered an anti-takeover practice, similar to a <a title="FT Lexicon - poison pill definition" href="http://lexicon.ft.com/Term?term=poison-pil" target="_blank">poison pill</a>. In the presence of a staggered board, a hostile bidder must wait several years to entirely replace the board with one of its own choosing, particularly because it must win <a title="FT Lexicon - proxy fight definition" href="http://lexicon.ft.com/Term?term=proxy-fight">proxy fights</a> at successive shareholder meetings. <span class="light"></span></p> <p><strong><span class="light">Example</span></strong></p> <p><span class="light">McDonalds is an example of a company with a staggered board.</span></p> <p> </p>Fri, 11 Nov 2011 12:09:59 +0000<p>A staggered board is a governance practice in which only a fraction (typically a third) of the members of the board of directors is elected each year, rather than all at once.</p> <p>Practically, staggered boards have the effect of making hostile takeovers more difficult and are hence considered an anti-takeover practice, similar to a <a title="FT Lexicon - poison pill definition" href="http://lexicon.ft.com/Term?term=poison-pil" target="_blank">poison pill</a>. In the presence of a staggered board, a hostile bidder must wait several years to entirely replace the board with one of its own choosing, particularly because it must win <a title="FT Lexicon - proxy fight definition" href="http://lexicon.ft.com/Term?term=proxy-fight">proxy fights</a> at successive shareholder meetings. <span class="light">[ref url=""]Raghavendra Rau, Judge Business School at the University of Cambridge[/ref]</span></p> <p><strong><span class="light">Example</span></strong></p> <p><span class="light">McDonalds is an example of a company with a staggered board.</span></p> <p>&nbsp;</p>