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GCs Among Highest-Paid Executives

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News In Brief:
Date: 12/08/2008

GCs Among Highest-Paid Executives
A recent review shows that chief legal officers and general counsels are listed among the top-five-highest-paid executives, with an average total package of almost $1 million. As the economy continues to spiral, GCs have become even more valuable to their companies because they can help reduce the costs of outside counsel. The Sarbanes-Oxley Act's heightened reporting requirements has made business executives value GC's good business judgment and aggression even more, securing well-paying positions for GCs.

Bank of England Appoints Graham Nicholson as New Chief Legal Counsel
Graham Nicholson, veteran lawyer for Freshfields Bruckhaus Deringer, will officially take up his new post as the Bank of England's chief legal counsel on January 1, 2009. In addition to his role as chief counsel, he will also become an adviser to the Bank of England's governor, Mervyn King. Says Freshfields co-senior partner Guy Morton, ''Graham has made an exceptional contribution to the firm [Freshfields] over many years, both in terms of client work and firm management, and I have no doubt that his wealth of experience and technical expertise will be invaluable in helping the bank face the current challenges we are seeing in the market.''

Warner Brothers' New GC Faces Intricate Issues in Digital Rights
Warner Brothers Entertainment, Inc., has hired John Rogovin as new general counsel. Rogovin will strive to solve intricate legal problems involving digital rights management. He will oversee a 125-lawyer staff and will be responsible for negotiations, litigation, employment law, and intellectual property, but most importantly, he will deal with digital rights issues. Advances in technology continue to allow media companies to distribute digital content to consumers more efficiently. Rogovin's struggle will be how to allow this while still protecting copyright interests. It will be difficult, but CEO Alan Hom shows confidence in Rogovin's success, ''As the legal issues surrounding creativity and production grow more and more complex, it's great to have a general counsel with John's experience and expertise in our corner.''


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