Beasley, Inc. is going to elect nine board members next month. Betty Brown owns 12.4 percent of

Question:

Beasley, Inc. is going to elect nine board members next month. Betty Brown owns 12.4 percent of the total shares outstanding. How confident can she be of having one of her candidate friends elected under the cumulative voting rule? Will her friend be elected for certain if the voting procedure is changed to the staggering rule, under which shareholders vote on three board members at a time?

Cumulative Voting
Cumulative voting is the procedure followed when electing a company's directors. Typically, each shareholder is entitled to one vote per share multiplied by the number of directors to be elected. This is a process sometimes known as proportional...