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Identification of high-potential lawyers may create problems

In his book, Theodore Levitt, Thinking about Management (Free Press 1991) at 18, Levitt writes that “really outstanding managers tend to emerge gradually from the pack, and occasionally suddenly in special circumstances, rather than being specifically selected or trained for command.” His observation contradicts the premise underlying the focus on…

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A general counsel is most at risk of termination when a new CEO comes from outside the company

A study described in the Harv. Bus. Rev., May 2007 at 64, looked at voluntary and involuntary turnover rates of proxy-level senior management, which often includes the general counsel, when a new CEO was promoted from within compared to hired from without. When there was an internal promotion, involuntary turnover…