"A board of directors in which one class of director would have clear majority and control of all U.S.O.C. matters would violate the Olympic Charter, obviate the need for consensus among board members and diminish the voice and vote of athlete members," the athletes said in a resolution.
FedEx, which previously opposed the change, now has three classes of directors who serve staggered three-year terms.
A version of the pre-2007 governance problem is playing out in full view, this time through interactions between different "classes" of directors at regional Feds.
There is no doubt that this kind of pay arrangement sets up two classes of directors doing the same job but being paid very different amounts.
Twitter will have three classes of directors who are elected in different years, making it significantly more difficult to replace the board in one fell swoop.
We are proud of every class of managing directors we have selected since 1996.
You'd like to blend in with the better class of creative directors and gallery assistants?
In addition to naming fewer partners, the firm is expected to shrink the size of its class of managing directors, which is one rung below that of partner.
The Goldman Sachs Group is in the middle of its biennial election of the next class of managing directors, an envied status that puts the lucky few just a breath away from the company's loftiest title of partner.
These include creating a new class of "public directors" appointed to corporations by a special nonprofit organization, reform of voting procedures currently subject to manipulation by management and, simply but perhaps most important, a law prohibiting people from simultaneously holding the positions of chief executive and board chairman.
