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Connecting the right future GC to holistic risk management needs

The case for succession planning in the general counsel role, part two of a three-part series.

Review of the demographics of general counsel within the Fortune 500 foreshadows the transition that approximately 25 percent of these companies are facing in the next few years and indicates a compelling mandate for a strategic approach to the inevitable.

Succession strategies that provide smooth transitions in key leadership roles are an essential aspect of a company's risk management profile. For the general counsel role, which carries with it the mandate for holistic risk management across an enterprise, succession planning should be a high priority. How companies address mitigating gaps in key leadership roles, and retain and develop talent, impacts investor confidence and may impact rating agency evaluations and even regulatory harmony.

Julie A. Preng

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