Dewey Changes Top Management in Face of Partner Departures
Dewey in the face of continuous partner departures and rumors of its finances being in bad shape is now changing its top management team. The firm leadership told its partners in a meeting on Monday that the current governing structure will be replaced with a five-member “office of the chairman”. Stephen Horvath, the M&A partner currently in London, will be in charge of the firm’s day-to-day operations. Both these changes are still pending approval from the firm leadership.
The changes were announced to its partners worldwide by an email, which said that the executive committee had reached this decision with the support of over 30 other senior partners. If the proposed changes are approved, which will need an amendment of the firm’s partnership code, current sole chairman Steven Davis will become one of the five members of the proposed “office of the chairman” committee.