#board-of-directors-and-committees #composition-of-the-bod #has-images #puerquito-session #reading-puerquito-verde
In a classified
board, directors are typically elected in two or more classes, serving terms greater than one year. Proponents argue that by staggering the election of directors, a certain level of continuity and skill is maintained. However, staggered terms make it more difficult for shareholders to make fundamental changes to the composition and behavior of the board and could result in a permanent impairment of long-term shareholder value.