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  1. #1

    board is staggered

    Does anybody know what "Staggered" means, e.g.
    When a board is staggered (in a company), hostile (unfriendly) bidders would have to wait longer to exercise normal voting rights for control of the target firm.
    thanks

  2. #2

    Re: board is staggered

    1. To place on or as if on alternating sides of a center line; set in a zigzag row or rows: theater seats that were staggered for clear viewing.
    2. To arrange in alternating or overlapping time periods: staggered the nurses' shifts.
    These are two meanings of the word. The second one applies to your example about the board. Interestingly though, your example makes use of both definitions.

    A hostile bidder could be seen as bowling ball and the board members as pins.
    If they are all in a straight line (all board members coming up for re-election every year instead of every three years on a rolling, or staggered*, basis) the entire board can be thrown out (knocked down) as a group in a proxy fight initiated by the hostile party.

    If you stagger their re-election terms, they make a much harder target!


    *This should not be confused with a staggering board. That would be the same group of people, near midnight, during the Christmas party.
    Last edited by wsemajb; 27-Sep-2006 at 17:11.

  3. #3

    Re: board is staggered

    thank you so much, good example, I'll keep in mind

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