CC votes for corporate governance

Two-thirds of Clifford Chance partners have voted overwhelmingly in favour of new corporate governance proposals, ushering in a new slimmed-down management structure

As revealed in The Lawyer (17 June) the proposals include: trimming the number of partners who sit on the executive; requiring those in management positions to earn their keep through ‘client contribution’; and abolishing the titles of chairman and chief executive officer (CEO) in favour of senior partner and managing partner.
The executive will change its name to ‘management committee’, while the board will change its name to ‘partnership council’. A number of key management positions will also be up for re-election. Also up for election is the post of senior partner.
The review was initiated by Peter Cornell after his election as CEO last year and involved a series of focus groups with partners.
The vote had been delayed because of poor partner response (The Lawyer, 15 July).