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Classified Board

Definition: [crh] 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 wDefinition: ho 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 Definition: classified board an effective delays of takeovers. Sometimes known as a delay provision.

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