Pinsent Masons introduces fixed terms for management
New management system introduced following partnership consultation
May 09, 2016 at 10:25 AM
2 minute read
Pinsent Masons has introduced a new management system that includes limits on the leadership terms of those in the firm's top positions.
The new leadership terms will limit board members, which include the firm's managing and senior partners, to four-year terms and sector and practice group heads to three-year terms, all eligible to stand for two terms.
This marks a break with Pinsent's previous approach, which allowed senior leaders unlimited terms.
Chris Mullen, the firm's previous senior partner, had held the role for 16 years prior to his election defeat by current senior partner Richard Foley (pictured) in 2014.
Under the new system, Foley's four-year term will come to an end in 2018 and if he is elected to a second term he will have to stand down by 2022 at the latest.
The firm said the reason for the policy change was to create more opportunities for partners to hold leadership roles and to return leaders with a good understanding of the business back into the firm.
Foley said the firm had: "Given significant thought to how our talent strategy can ensure we keep those with desire for – or experience of – leadership positions within the firm, to the benefit of our clients and our business."
The new leadership terms were not put to a full partnership vote but the firm said that it consulted widely on the changes before they were implemented.
The firm has also recently revamped its board, adding two new partners including the first non-UK partner to sit on the board, corporate lawyer Rainer Kreifels from the firm's Munich office.
It also appointed its first external board member, banker Pauline Egan.
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