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Economy

Staggered boards make it impossible to replace directors

HERE’S THE INTERESTING PART

Democracy is great, except when investors want to fire the current management. Staggered boards only allow a fraction of directors to be up for election each year. This mathematical blockade means an activist investor cannot sweep the board and seize control in a single proxy fight, legally cementing the incumbent management's grip on power.

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Staggered boards make it impossible to replace directors
STACKY / Economy
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