Slater & Gordon has said company chief executive David Whitmore will step down from his position, after setting out plans to split its business in two, with a view to separating its “essential” and “specialist” legal services segments.
The law firm said Whitmore – who took up his CEO role in January 2018 – will transfer to a new, non-executive position this summer, as it said current chief financial & operating officer Nils Stroesser will take up the chief executive position on Friday 1st July.
The boardroom shakeup comes after both Whitmore and Stroesser took up their positions in 2018, after Slater & Gordon was acquired by New York hedge fund Anchorage Capital, following its split from its Australian parent company.
However, a Slater & Gordon spokesperson denied that the firm it is in talks for any future mergers – despite rumours of a potential acquisition by Irwin Mitchell.
David Whitmore is credited with reviving Slater & Gordon’s UK business, after the firm split off from its Australian listed parent company in January 2018.
The split saw Slater & Gordon’s Melbourne headquartered business remain listed on the Australian stock exchange, after New York hedge fund Anchorage Capital struck a deal to buy up the law firm’s UK business.
Under Whitmore, Slater & Gordon pursued an “aggressive” tech-focused growth strategy, that saw the firm make a number of acquisitions. Whitmore also closed a number of Slater & Gordon’s smaller offices as it reduced the number of fee earners.