Companies Make Room for General Counsel Turnover
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Make way, here come the new general counsel. A forthcoming survey from BTI Consulting Group reveals that 10 percent of large companies started 2014 with new GCs at the helm of their legal departments.
Although the BTI Benchmarking Corporate Counsel Management Strategies survey, now in its 13th year, has not yet been formally released, BTI shared some insights ahead of publication. The survey was assembled using interviews from more than 300 chief legal officers and general counsel at Fortune 1000 organizations and other large public and private companies.
Michael Rynowecer, president and founder of BTI Consulting, told CorpCounsel.com that this jump in the percentage of new GCs is a big change from years past. “Typically we’ll see something in the two, three, four percent range,” he said.
Michael Rynowecer, president and founder of BTI Consulting, told CorpCounsel.com that this jump in the percentage of new GCs is a big change from years past. “Typically we’ll see something in the two, three, four percent range,” he said.
Why the sudden increase? Rynowecer explained that the answer, as far as BTI can tell, has to do with the ascent of members of Generation X into positions of law department leadership, as well as the growing need for a new attitude toward running the legal function in the context of the company. “You’ve started to see the beginning of the baby boomers retiring,” he said. “But you’re also seeing companies wanting to be more aggressive and change the way they manage the legal department.”
Read original articleTags: BTI Consulting, BTI Consulting Group, GCs, Michael Rynowecer
