Stag­gered boards have long been a key mech­a­nism for insu­lating boards of pub­licly traded firms from share­holders. This year, sev­eral insti­tu­tional investors and a pro­gram working on their behalf have used share­holder pro­posals to move a large number of pub­licly traded firms away from such struc­tures. Despite strong and expected crit­i­cism from the usual sus­pects, share­holders should wel­come and sup­port this work.

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