The art of transforming lawyers into directors on receptive boards
They can bring more than just their legal expertise to commercial boards
IN AUGUST, US rental car giant Hertz announced that it is adding two lawyers as board members – a current and a former general counsel of corporations.
This is the latest in an increasing trend where lawyers are welcomed by commercial boards.
For years, companies have resisted (even frowned upon) the appointment of lawyers to boards, with some corporate leaders believing that because their businesses already have an internal chief legal officer or general counsel, appointing a lawyer from the outside would be superfluous. This was the mindset regardless of whether the lawyer hailed from legal practice or was a general counsel in another corporation.
TRENDING NOW
He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons
Fed hike throws Singapore banks a margin lifeline; UOB likely to benefit more
Luxury properties seized in S$3 billion money laundering case fail to sell at auction
US stocks: Tech leads Wall Street to higher close as oil eases, Treasury yields dip