This column, the second in a series, is drawn from the Global Counsel Leaders Circle Target Topic report provided in the link in the article below. Read part one here.
The demands on general counsel from their boards of directors and other stakeholders have grown in countless ways. While general counsel appreciate the rewards of their raised profile in the company, they also recognize the potential landmines. Corporate governance demands translate to more work, higher stakes and far greater finesse on the part of the general counsel.
Some general counsel are admirably meeting the new challenges, presented in a new study I compiled for the Global Counsel Leaders Circle: “Sea Change: How New Corporate Governance Demands are Elevating the General Counsel’s Job.” One executive interviewed said, “General counsel are expected to have a better understanding of the working of the board, and play the role of both ‘man of affairs’ and keeper of corporate conscience, not just technical lawyer.”
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