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Eversheds chief executive David Gray is stepping down from the post, with UK managing partner Bryan Hughes tipped to succeed him.
Eversheds chief exec quits role for more time with the missus" />Eversheds chief executive David Gray is stepping down after just over five years in the post, with UK managing partner Bryan Hughes tipped to succeed him.
Gray, who has led the firm since May 2003, said he is standing down to regain a sense of work-life balance.
“Though it’s a fantastic job it’s been all-consuming, leading me to be away from my family for much of the last six years,” he said. “Now I want time to spend with my best friend – my wife.”
At the moment it is unclear whether Gray will remain with the firm. While he does not intend to go back to fee-earning, Gray said he would consider any role his successor might offer him.
He added: “If the new chief executive feels there’s no role for me then the world’s my oyster.”
Nominations for the chief executive post opened last Friday (15 August), with each nominee requiring the support of 10 partners in order to be able to stand. It is expected that Hughes will stand uncontested, although sources at the firm said that European managing partner Michael Brown, who came second to Gray when he originally stood in 2002, may throw his hat into the ring.
It is anticipated that the election process will be completed by October.
Last ;year ;Eversheds altered its constitution so that the positions of chair and chief executive could only be held for a maximum of two terms. Prior to that the number of terms was unlimited. At the same time, however, the firm extended the term of office from three to four years.