Personal injury (PI) firm Thompsons has appointed a chief executive officer, a chief finance officer and a chief operations officer as part of its strategy to devolve decision-making away from the partners. Senior managing partners Geoff Shears and Frank Foy have been appointed CEO and COO respectively. Both partners are PI and trade union lawyers.
Stephen Booth, previously an accountant with Thompsons on an interim contract, has been appointed chief finance officer.
Although the executive board will be responsible for the day-to-day running of the firm, it will be controlled by a supervisory board. The new structure should be in place early next year.
“The partnership model is inherently flawed in the context of the changing legal and business environment. Our new structure will give us devolved responsibility and greater efficiency and accountability,” says Shears. For full story, see page 2.