Classified Board of Directors
A Board of Directors that is split into different classes, such as directors with different terms of office. This can be a defensive tactic to prevent stockholders from changing the corporate directors too quickly because the new directors are elected periodically, such as a rotating board with 1/3 of the directors every three years.
A Board of Directors that is split into different classes, such as directors with different terms of office. This can be a defensive tactic to prevent stockholders from changing the corporate directors too quickly because the new directors are elected periodically, such as a rotating board with 1/3 of the directors every three years.