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staggered directorships


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A measure used in the defence against unwanted takeover bids. If the company concerned resolves that the terms of office served by its directors are to be staggered and that no director can be removed from office without due cause, a bidder cannot gain control of the board for some years, even with a controlling interest in the share capital. See poison pill.

Subjects: Financial Institutions and Services — Accounting.


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