Lawyers have not been the traditional choice to serve on boards of directors. Instead of selecting someone with general counsel or other legal experience, the financial acumen and strategic management experience more typical of CEOs have been the default preference for corporate governance. But an emerging school of thought is beginning to change that.
This new thinking places greater value on the lawyer-director, in large part due to the increasingly risky environment facing virtually every enterprise. This is why my colleagues at Allegis Partners, a global executive search firm with a board search practice, recently assembled a panel of former general counsel turned public company directors to discuss some relevant questions. To wit: Given the critical relationship between governance and the global risk environment, what value can GCs offer as members of boards of directors? And how do GCs get appointed?
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