The Report, which is in association with global law firm network TerraLex, reveals that 93 per cent of respondents are convinced that companies benefit from lawyers on boards whilst one in eight general counsel are actively looking for a place at the main table. Visa counsel Bruce MacMillan  supports the view that  knowledgeable GCs can be valuable addition to company boardrooms. However, he is less convinced that sitting there as a director is the answer. ‘GCs find themselves advising the organisation as a whole on levelsof risk and that sort of discussion could be very difficult to have for someone who was also a director.’

Navigator

Mr MacMillan suggests the key GC role is that of navigator – helping the board of directors chart a course across an increasing complicated sea of rules and regulations. ‘For example, businesses need data protection licences and few organisations will operate without advertising, so they will need to be made aware of the regulations surrounding those areas.’

Less convinced

Rosemary Martin, general counsel of Vodafone is ambivalent on the issue of whether GCs should sit on corporate boards. ‘It is a matter of personal choice for the GC,’ she says. ‘GCs can make effective non-executive directors as often they understand how businesses work, they can assimilate a lot of information quickly and they have good analytical skills.‘Some are big fans of higher profile board involvement,others not. Is being on the board the best route to increasing the profile of GCs within a business? Not necessarily.’

The GC Excellence Report 2015 is shortly to be released. For further information or to receive a copy, please contact benmartin@globalcitymedia.com.