Camerons set to extend senior partner Price's term to see through 'strategic objectives'
CMS Cameron McKenna is considering extending the term of senior partner Richard Price. Price's second four-year term is due to expire at the end of this financial year (30 April) and there is currently a two-term cap on the position. However, the firm's management is expected to propose that he stay on for an additional year beyond the maximum term as an exceptional measure.
February 03, 2010 at 03:29 AM
2 minute read
CMS Cameron McKenna is considering extending the term of senior partner Richard Price.
Price's second four-year term is due to expire at the end of this financial year (30 April) and there is currently a two-term cap on the position. However, the firm's management is expected to propose that he stay on for an additional year beyond the maximum term as an exceptional measure.
Camerons' board was due to make a final decision on the proposal as Legal Week went to press, but a note went out to the partnership last Friday (29 January) detailing the case for extending Price's term. The board was due to vote on the proposal as Legal Week went to press and, if approved, it will go to a partner vote in March for final approval.
Last week's note, from managing partner Duncan Weston, said the board thinks it would be "unproductive" to invest significant time on "internal-facing issues" during the current market conditions, particularly with Price midway through a number of projects.
It stated: "The next financial year will be vital in helping to shape how we recover from the recession and the progress we make to achieve our strategic objectives. The board believes that it is crucial that, during this period, the firm continues to benefit from Richard's leadership and can continue to call on his wealth of experience during this exciting yet challenging time."
Price has been the firm's senior partner since 2002 when he replaced Bill Shelford in the role. Weston took up the managing partner role in May 2008 from Dick Tyler, who took on a leadership position within the wider CMS network.
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