CC approves policy change to speed up partner exits
Clifford Chance (CC) has approved changes to its partner termination policy which will allow the firm to speed up the exit of partners being managed out for performance reasons.
July 19, 2012 at 07:03 PM
2 minute read
Clifford Chance (CC) has approved changes to its partner termination policy which will allow the firm to speed up the exit of partners being managed out for performance reasons.
CC launched a consultation with partners in April, with the changes to come into effect imminently and the firm's partnership deed to be altered accordingly.
The memo sent to partners in April proposed changing the partnership deed to allow management to shorten consultation periods and lengthen notice periods in some partner exits so that, while some could be given time to improve ahead of any exit, others could be terminated with three months' notice, followed by nine months' compensation.
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