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THE AGENDA RISE OF THE GC: FROM LEGAL ADVISER TO STRATEGIC ADVISER year, as we watch the executive team and board become more involved with the interview process and more care is taken about the candidates who are being considered. Are most GCs today already well suited to discuss and understand business strategy as opposed to purely legal knowledge? It’s apparent that general business acumen will begin to be more important to the role of general counsel as an adviser to the board and the CEO. With virtually every GC being considered a member of the executive team today, his or her influence on the business is significant. GCs must be business minded, or they will be quickly replaced with someone who is. AS THE SCOPE OF ENTERPRISE risk oversight and corporate governance continues to expand and evolve, so does the role of the corporate general counsel. Today’s GC has a much wider purview beyond the customary responsibility of serving as the organization’s chief legal officer. As a result, organizations are finding that the perspective of the general counsel—who has been trained to analyze issues legally, ethically, and objectively–is uniquely positioned to bring additional insights to strategic decision making. Robert Barker and John Gilmore to discuss the survey results. Earlier this year, NYSE Governance Services and BarkerGilmore conducted a study of US corporate directors and executive officers to identify trends related to the general counsel’s role and responsibilities and determine how legal departments can better prepare for the future needs of the corporation. Corporate Board Member recently sat down with managing partners While this one piece of data was surprising, the responses of the board members fortified what we are seeing every day. The board ultimately wants a leader with good judgment, someone who will guide on governance issues and be a trusted member of the executive team. The importance of the role that the GC is playing becomes more evident every 8 What one piece of data really stood out to you from this year’s survey? The projected increase of GCs who will also become chief risk officers was unexpected (14% currently act as chief risk officers, but that number is expected to double to 31% by 2020), but it’s understandable when you consider one of their fundamental roles is to protect the company. Co r p o r at e B oa r d M e M B e r S e Co N d Q Ua rt e r 2 0 1 6 What can legal departments do today to help ramp up needed skills and competencies for the future? A world-class law department has depth beyond the general counsel. Today’s leading general counsel are mindful of succession planning, which is completely irrelevant to any expectation of their departure date. Successful succession planning revolves around hiring exceptional talent who have the ability to work outside of their practice area and putting these individuals in situations to learn new areas of law, compliance, or business. By constantly challenging the lawyers in the law department and fortifying relationships with the executive team and the business, the company will be strengthened with leaders who can step up to new legal and governance challenges. Additionally, the board and CEO will have peace of mind knowing that the quality of the law department will support the company’s business goals. What kind of questions should boards be asking to ensure they are hiring the right GC? Since the relationship between the GC, the CEO, and the board is so intertwined,