An increasing number of firms announce new leadership, with many doing so upward of a year in advance. Michael D. Short, consultant in the US firm LawVision Group, links the announcements of new leaders to the demographics issue. He said: 'In addition to the basics of the business model changing, I think legal is at the beginning of a demographic crisis. The ageing of partnerships is severe.'
Planning ahead
It's important that new leaders not only keep the firm on course, but actually drive change, says Altman Weil consultant Eric Seeger. But a problem can be partner resistance to that change, which is one of the reasons announcing a leadership plan far in advance is a good idea, he added. One firm, Obermayer Rebmann Maxwell & Hippel, which has announced a leadership change for January 1st, says that it has been thinking about the handover for five years. Source: Pittsburgh Post-Gazette
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