Good news for general counsel who dream of one day sitting in the king’s seat: the ABA Magazine says there is a new trend of corporations tapping lawyers to become top executives:
Nine of the Fortune 50 companies now have a lawyer as chief executive, up from three just a decade ago. In December, Bank of America and Continental Airlines became the two most recent publicly traded corporations to do so. Also in 2009, Citigroup named Richard Parsons, another lawyer, as its chairman, which is separate from the CEO.
Business leaders and corporate headhunters agree that the JD is once again an alternative to the MBA as the degree of choice for CEO candidates, and that the trend is very likely to increase over the next decade.
Woo-hoo. Maybe law school grads will start kicking biz school grads to the curb. Vanderbilt’s management school dean goes so far as to call the J.D. a “renaissance degree.”
According to the ABA Magazine, one law school is particularly successful in sending its grads off to lead a company instead of doing bet-the-company work….