A situation where every director serves a three-year term and the terms are staggered so that only one-third of the directors are up for election each year is called a:
A)white knight.
B)classified board.
C)poison pill.
D)golden parachute.

Question

Quizplus · Accepted Answer

A classified board is where directors serve staggered three-year terms, with only one-third of the board up for election each year.

A Situation Where Every Director Serves a Three-Year Term and the Terms