Top 50 firm Charles Russell has scrapped the role of managing partner in a radical overhaul of its management structure.
A spokesperson said the decision followed an internal review and was not the result of external pressure, nor was the move in anticipation of the introduction of alternative business structures in October.
The current board has recommended the appointment of a new board made up of six partners, including a new chair.
The changes will see managing partner James Holder move into a business development role, while The Lawyer understands that current chairman Bart Peerless is unlikely to stand for re-election.
The new structure, which goes live on 1 May to coincide with the beginning of the firm’s financial year, will see the creation of a new chief operating officer role that could be filled by either an internal or external candidate.
In a statement the firm said: “We’re all indebted to the hard work James has put into managing the firm’s business over the past four years and are delighted he’ll continue to work for the firm.
“Charles Russell is confident that the new arrangements will provide a good platform for growth and development.”
Peerless and Holder were unavailable for comment.