When Larry Weiss joins leading chipmaker company Analog Devices Inc. as vice president, general counsel and secretary on Feb. 11, he will report to Margaret Seif, chief legal and people officer. Yes, the general counsel will report to the chief legal officer.
The legal department at the Norwood, Massachusetts-based business is adopting a not unheard of but still fairly uncommon practice of employing both a CLO and GC.
Legal departments with both a CLO and GC also generally are seen within large companies with revenue dollars in the billions, said Bob Graff, a partner and recruiter at legal recruiting firm Major, Lindsey & Africa. Last summer, publishing giant Hearst Communications Inc., which reported a revenue of $10.8 billion in 2017, appointed two GCs to replace its former GC, who was promoted to CLO.