Cozen O'Connor Announces Changes in Firm Governance.

PHILADELPHIA -- Cozen O'Connor recently announced fundamental changes to the firm's governance structure, to vigorously carry the firm forward as it transitions from its first generation leadership.

The new governance is based on a continuation of the firm's strong executive culture, with broad powers to the CEO, a Management Committee to lead day to day practice and business activities and a Board of Directors predominantly elected by the firm's shareholders and reflective of the firm's geographic reach throughout the United States, London and Toronto. Shareholder voting on the election of directors, the admission of new shareholders and other important matters will be on a weighted voting system with weighting based on compensation. All shareholders will have the same number of shares. Founders Stephen A. Cozen and Patrick J. O'Connor have relinquished their control positions but will remain very active in the firm's practice and policymaking, and will serve as Chairman and Vice Chairman of the firm, respectively. O'Connor will continue to serve as CEO until a successor is selected.

"Our revised governance is the result of careful study by a committee of shareholders appointed for this purpose, and reflects the advice of independent consultants with expertise in these matters," said O'Connor. "The system is designed to continue to have the benefit of advice and active participation by the firm's founder and leaders while transitioning decision making power and management to the shareholder body, the elected Board, and the Management Committee."

Founded in 1968, Cozen O'Connor is ranked among the 100 largest law firms in the United States, serving business, insurance and private clients. Cozen O'Connor is a full-service firm with 500 attorneys practicing in 23 offices. The firm has 21 offices located across the United States and international offices in London and Toronto.