Mishcon de Reya has announced that it is to change its leadership structure next month, with managing partner of 23 years, Kevin Gold, to take on a newly-created leadership role.

Effective from April 10, the overhaul sees the role of managing partner split across two individuals—a new managing partner and an executive chairperson—the firm said in a statement.

Gold will take on the newly-created role of executive chairperson for an initial five-year term. He will be responsible for the overall strategic development of the firm as well as its other businesses: MDR Cyber, MDR Brand Management, MDR Mayfair and MDR Discover.

Stepping into the managing partner role is head of Mishcon Private, James Libson, on an initial four-year term. Libson will be responsible for the operational management of the firm, but will continue to act for clients.

Gold said in a statement: "I am excited for the next phase of growth in the firm. This is the latest in a series of structural changes that we are making to accelerate our ambitious growth plans and is consistent with both our ten year vision and our core values. I'm proud to take on this role across the law firm and MDR group and look forward to working with James to make it happen."

When Gold took over as managing partner in 1997, the firm counted fewer than 100 people in its ranks. It has since grown to an organisation that employs more than 1,000. Gold was re-elected managing partner on a three-year term in 2016, in the firm's second ever election process.

Last year, the firm announced a 10% revenue growth year-on-year, topping £177.8 million. Over a period of five years, the firm's revenue has soared 80%.