Eversheds‘ management structure has been finalised following Lee Ranson’s appointment as chief executive last month, Legal Business has learned.
Former international managing partner Ian Gray has been given the new role of executive partner, with a broad remit which includes being responsible for firmwide client strategy. Gray is currently the client partner for the firm’s sole adviser mandate with FTSE 100 water company Severn Trent, as well as the relationship with Vodafone.
Meanwhile the international managing partner role has been scrapped and merged into the managing partner role, which will be taken up by current head for company commercial Keith Froud. Both Froud and Gray will take up their new roles in May next year and are already members of the firm’s executive, international strategy group and senior management team.
Legal Business revealed in September that Ranson, along with Gray and Froud had been in negotiations to forge a new leadership team as the firm strived to avoid a divisive contest. It is understood that all three will work together very closely when Ranson takes the reins next year.
Ranson, who is currently managing partner, was automatically appointed into the chief executive role following a three week period in which no other candidate was nominated.
He has long been the frontrunner to take over from longstanding chief executive Bryan Hughes who departs the role in May after two four-year terms.
As early as last September Ranson said he was positioning himself for the chief executive role after being tasked with leading a ‘Growth Agenda’ following the firm’s subdued performance for the financial year 2014/15.
Ranson said: ‘Where I am at the moment, the next logical step for me would be chief executive – all things being equal in 12 months’ time.’
Eversheds declined to comment.