Hangley Aronchick Announces Leadership Change
Philadelphia-based Hangley Aronchick Segal Pudlin & Schiller will undergo the first major leadership change in its 19-year history on January 1 of next year, when Chairman William T. Hangley steps down and hands over the reins to new Chairman Mark A. Aronchick and Vice Chairman Ronald P. Schiller.
The firm said the move marks the first step toward eventually transitioning key leadership responsibilities from the firm's founders and senior shareholders to a younger generation of lawyers.
Hangley, who Aronchick described as "forever young" and "as busy as he's ever been," plans to remain on the firm's board of directors and to maintain his full-time practice, which focuses on bet-the-company litigation.
"Letting go of the reins of leadership is a little bit scary, particularly in these challenging times for law firms, but Mark Aronchick has been great in everything he has tried," Hangley said in a press release.
Meanwhile, David B. Pudlin, the firm's president and chief executive officer since its founding, will remain in that capacity.
Pudlin's duties will largely continue to involve running the day-to-day business operations of the firm, while Aronchick and Schiller will collaborate on a more macro view of the firm's direction.
Aronchick said the timing was right for the leadership change, noting that the founding shareholders — Hangley, Aronchick, Pudlin and litigation department head Daniel Segal — feel they've accomplished all of the major goals they set out for the firm at its inception.
One of the goals, of course, was financial success, Aronchick said.
When the founding shareholders left now-defunct Philadelphia firm Hangley Connolly Epstein Chicco Foxman & Ewing in 1994 to form Hangley Aronchick, Pudlin said, they all took a huge risk and incurred significant upfront debt to get the firm running before revenues started to come in.
But nearly two decades later, Aronchick said, the firm is consistently enjoying "year after year of record economic growth."