Shoosmiths chief exec to quit as firm elects first female leader

Shoosmiths chief executive Paul Stothard has quit the firm just one year into his third term at the head of the firm, with insurance partner Claire Rowe elected as his successor.

Rowe (pictured), the firm's first female chief executive, will take up the role on 1 August following an uncontested election.

Stothard, who will now leave the firm, was re-elected for his third three-year term last year. It is unclear what his next move will be.

During his time in office, Stothard oversaw the opening of the firm's Birmingham and Manchester offices, while fee income increased from £44m in 2002 to £103m in 2007-08 year.

However, earlier this month Shoosmiths launched a redundancy consultation with 69 roles at risk, after last July cutting 28 jobs in its Northampton-based consumer residential conveyancing group.

The firm also faced criticism in March this year when it asked its 2009 trainee intake to withdraw from their contract with the firm or defer until 2011 - without any offer of financial compensation.

Rowe, who trained at the firm, currently heads up the firm's commercial group which includes litigation, technology, housing, regulatory, employment and pensions. The UK top 30 firm is in the process of appointing a new commercial head.

Rowe commented: "It is a very exciting time for Shoosmiths, notwithstanding the difficult economic conditions. I want to take the business forward to make sure we are well placed as and when market conditions improve."

She added: "There will be no immediate changes to the strategy in the short term. I will be working with the partners to make sure the business is running as efficiently as possible and maximising our client relationships."

Shoosmiths chairman Andrew Tubbs said: "Shoosmiths has enjoyed a period of extensive growth and Paul has played a significant part in this development. He felt the time was right to hand his leadership role to someone new to shape the next chapter in our history. He is leaving us amicably and we wish him all the very best."

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