Only a portion of the board of directors are up for election in any given year when a firm has a classified board.

Name: Only a portion of the board of directors are up for election in any given year when a firm has a classified board.
Brand: Quizplus
Rating: 4.8 (32 reviews)

Question

Quizplus · Accepted Answer

A classified board is one in which the board of directors is divided into groups or "classes" with staggered terms. Only a portion of the board is up for election in any given year, which helps to provide continuity and stability to the board.

Only a Portion of the Board of Directors Are Up