Take a Look at Some of 2019’s Top In-House Lawyer Pay Packages

Hewlett-Packard Co. is no more, but the top lawyers for its two successor companies remain close, at least when it comes to their total compensation in 2019.

Enterprise Value: John Schultz, chief legal and administrative officer at Hewlett Packard Enterprise Co. and a former Morgan, Lewis & Bockius partner, earned more than $7.2 million last year, according to an annual proxy statement filed by the San Jose, Calif.-based information technology company. Kim Rivera, HP Inc.’s chief legal officer since 2015, earned nearly $6.58 million last year.

Top Packages: Rivera and Schultz are just two of the latest notable top in-house lawyer compensation packages to be disclosed as proxy season begins and large publicly traded U.S. companies close their books on fiscal 2019. Brian Baxter has a look at 30 law department leaders ranked by the total compensation disclosed in their respective company’s 2019 summary compensation table in this story.

COMPLIANCE

Employers Must Balance Risk, Compliance as Coronavirus Spreads
Employers in U.S. states without sick-leave laws likely will be responsible for determining the best course of action to prevent the spread of coronavirus in the workplace, and their options don’t necessarily have to include providing pay or job protections during periods of absence.

Employee Remote Work Amid Coronavirus Risks Security Flaws
Company employees that work from home during the novel coronavirus outbreak must meet data-security requirements or risk regulators’ scrutiny.

No-Scoop Deals Seen Growing After Star Turn in Google-Uber Feud
The $179 million saga of a Silicon Valley engineer who paid the price in a tug-of-war between Alphabet Inc.'s Google and Uber Technologies Inc. features a powerful legal tool that companies are increasingly relying on to stop employees from fleeing to competitors.

Ex-U.S. Bank Executive Fined For Anti-Money Laundering Lapses
A former U.S. Bank executive vice president must pay $450,000 for failing to stop violations of anti-money laundering rules, the Treasury Department’s financial intelligence unit said.

BUSINESS & PRACTICE

Jack Welch Changed Role of In-House Lawyers at General Electric
Former General Electric Co. chairman and CEO Jack Welch Jr. and his hand-picked former general counsel Benjamin Heineman Jr. revolutionized the role of the in-house law department during his 20 years as CEO.

Wells Fargo Names Edwards Acting Legal Chief as Search Continues
Wells Fargo & Co. has appointed Douglas Edwards to serve as acting legal chief and a member of the bank’s operating committee.

Sotheby’s Appoints New Legal, Compliance Leaders
Sotheby’s has installed new legal and compliance leaders two months after overhauling its top management.

CoStar, Regency Centers Reshuffle General Counsel Roles
Two of the largest U.S. real estate companies have announced new top lawyers.

DocuSign Wants to ‘Democratize’ Contract Negotiations
DocuSign is looking to “democratize” contract technology to make it easier for non-lawyers at corporations to complete tasks that would normally require an in-house lawyer’s time. If the trend continues, it may be wise for lawyers to demonstrate through metrics how they can play a role in the contracting process as it evolves.

LEGAL NEWS

Tesla Defends Musk’s Take-Private Tweet in Billion-Dollar Suit
Elon Musk’s comments about taking Tesla Inc. private were “aspirational,” not fraudulent, the company argues in asking a judge to throw out a shareholder lawsuit over his infamous tweet from 1 1/2 years ago.

Facebook Message-Scanning Deal Gets 9th Cir. Green Light
Facebook Inc.’s no-fault settlement over the social media giant’s data-collection practices involving links found in user’s private messages was affirmed by the Ninth Circuit, over an objector’s argument that the deal was worthless.

Aldi Joins Ranks of Employers Targeted by Illinois Biometric Law
Grocery chain Aldi Inc. is the latest company to face class claims on behalf of workers under an Illinois law that protects residents against the use of their fingerprints and other biometric information.

Netflix, Investors Ask Judge to OK Bonus Fight Settlement
Netflix Inc. and its board reached a settlement with shareholders who raised concerns about executives receiving performance bonuses for hitting near-guaranteed goals , according to filings in California federal district court.

Zillow Loses Bid to End Investors’ Derivative Suit on CFPB Probe
Zillow Group Inc. is stuck facing a shareholder derivative suit alleging its leadership misled investors about a financial regulator’s probe after a Washington federal district judge refused to dismiss the suit against the real estate platform.

CORPORATE GOVERNANCE

For our up-to-the-minute news on corporate governance, check out our Corporate Governance channel.

BLOOMBERG LAW ANALYSIS

Analysis: Oral Arguments Portend SEC Disgorgement Changes
Predicting the outcome of Supreme Court cases from oral arguments is an inexact science at best. The recent questioning by the justices in an SEC enforcement case suggests, however, that the disgorgement remedy will survive a significant challenge with just a few bruises.

PRACTITIONER INSIGHTS

Matthew K. Fawcett, senior VP and general counsel at NetApp, has a three-part series on general counsels exploring how the role is rapidly changing, how they should navigate environmental, social and governance standards, and how they can determine whether a company’s culture is ethical.
Insight: GCs Must Transform Their Teams for a Decade of Disruption

Insight: GCs Must Balance ESG in an Age of Activism

Insight: GCs—Are You Working for an Ethical Company

Insight: Coronavirus Triggers SEC Disclosure Obligations
The coronavirus and its potential impact on businesses is triggering a careful look at SEC disclosure obligations. Adele Hogan, partner at Nelson Mullins says its known and unknown impact on earnings, supply chains, customers and other stakeholders, as well as other business matters, is likely to be material for some companies and require disclosure. Environmental, social and governance factors may need to be disclosed as well.

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