Chief “Pricing” Officers Gain Momentum in 2018

Chief “Pricing” Officers Gain Momentum in 2018

It has been years since the legal industry adopted the C-Suite framework–so common within its clients–for its business functions. It has been slow to invite the Pricing function into that club. The momentum shifted in 2018.

The Beginning: In 2010, Drinker Biddle created the legal profession’s first Chief Value Officer role. Although not truly a Chief Pricing Officer, the role incorporated the pricing function. Some firms will follow its lead, opting to use the “value” label in place of “pricing.”

The Milestone: In 2014, Greenberg Traurig promoted its Director of Revenue Management, Matthew Beekhuizen, to Chief Pricing Officer, becoming the first law firm to create the CPO position. Over the next four years, five law firms will hire a CPO.

The Inflection Point: In 2018, two law firms hired a Chief Pricing Officer and three law firms hire pricing-related Chiefs, the first time five C-suite leaders have been hired in the same year. Also, it is the first time two Chiefs have changed firms in the same year. And, it is the first time any law firm with less than 125 attorneys has hired a pricing professional.

2010Drinker BiddleChief Value OfficerKristin Sudholz
2014Greenberg TraurigChief Pricing OfficerMatthew Beekhuizer
2014Akin GumpChief Practice OfficerToby Brown
2015Covington & BurlingChief Strategic Pricing OfficerHushman Cott, Esq.
2015Steptoe & JohnsonChief Strategic Pricing & LPM Officer, Chief Client Value OfficerLinda Novosel, Esq.
2015Bryan CaveChief Practice Economics OfficerChris Emerson
2016Perkins CoieChief Practice Management OfficerToby Brown*
2016Simpson ThacherChief Pricing OfficerEddie Raychaudhuri, Esq.
2016Stinson Leonard StreetChief Strategy & Pricing OfficerDoug Doerfler
2017Robins KaplanChief Strategy, Pricing & LPM OfficerBree Johnson, Esq.
2018Ballard SpahrChief Client Value OfficerMelissa Prince, Esq.
2018Bergman SingermanChief Pricing & LPM OfficerEddie Raychaudhuri, Esq.*
2018Blank RomeChief Innovation & Value OfficerLinda Novosel, Esq.*
2018Goulston & StorrsChief Value OfficerChristopher Ende, Esq.
2018Pepper HamiltonChief Pricing OfficerPeter Secor
2018Shearman & SterlingChief Knowledge & Client Value OfficerMeredith Williams-Range, Esq.

*Change in firm or title.

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