Corporate Governance Guru Leo Strine Lands at Wachtell
The former Delaware chancellor and chief justice's hire unites two top names in corporate disputes and governance.
April 27, 2020 at 09:35 AM
2 minute read
The original version of this story was published on Delaware Law Weekly
Leo Strine Jr., who built a reputation as a preeminent corporate governance expert over two decades deciding business disputes in Delaware, is joining Wachtell, Lipton, Rosen & Katz, the firm said Monday.
Strine was just 55 when he retired from his position as chief justice of the Delaware Supreme Court last July, about midway through his 12-year term and after 21 years as a Delaware judge.
Before he was named to the state's highest court in 2014, Strine presided over one of the country's most influential business courts in his role as chancellor of the Delaware Court of Chancery. Throughout his tenure there he relished in the arcana of corporate governance, delivering sometimes biting opinions on the scope of board member obligations, merger defense and other key topics in the field.
At Wachtell, which has its own reputation as a titan in corporate deals and disputes, Strine's title will be of counsel. The firm said he'll work with clients on corporate governance matters, structuring complex transactions and crafting strategy for deals and litigation. In a firm memo announcing the hire, Wachtell cited the issue of sustainability and social responsibility in corporate practices as another key area of Strine's focus.
"As a judge, I thought the importance of corporations in our society could not be measured by their stock price, and that it was critical to our nation's well-being that powerful businesses treat their workers and consumers well, support the communities in which they operate, and focus on environmentally responsible, sustainable wealth creation," Strine said in statement released by the firm. Wachtell, he added, will be "a great institution for me to help to put into practical application principles I believe are vital to our economy working for everyone."
Before joining the Chancery Court in 1998 as a vice chancellor, Strine was a litigator with Skadden, Arps, Slate, Meagher & Flom and then counsel to Delaware Gov. Thomas Carper for five years.
Wachtell has no Delaware office; the firm said he "will be reachable at the firm's office in New York City."
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