Francis was one of four partners competing for the top job, running against corporate head Christopher Tite, corporate partner Sunil Kakkad and tax partner Robert Field. She will be replaced as managing partner by LG’s head of business and finance, Hugh Maule, who stood unopposed.
Maule was appointed head of LG’s business and finance group in July. He has been at the firm for 18 years and became a partner in 1999.
Richards’ and Francis’s terms expire officially in April but it is expected that both Francis and Maule will take on their new roles before that point. The news was announced internally on Monday (12 November).
Under the current system, Richards chairs the partnership board and the equity partners’ committee, while Francis runs the firm’s management team. However, the responsibilities associated with each role are currently under discussion.
Francis told Legal Week: “Hugh will step into this new role very naturally. I have enjoyed working with him and look forward to working on the next stage of our development.”
Richards, who became managing partner in 1995 and was elected senior partner in 2002, has yet to announce what he will do when Francis takes over and has not confirmed whether he will be staying with the firm.
He told the firm of his decision to step down in September, having informed the partnership about his plans in July.
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