In December of last year, Steven Ellis, chairman of Proskauer Rose, announced his decision to step down from his role due to health-related reasons. Although originally slated to lead the prominent law firm until September 2025, Ellis’s early departure instigated an election this month to find a new leader. The results are in and Proskauer will welcome a new chair, Timothy Mungovan, effective from April 2024. Read more about Ellis’s departure on Above The Law.
Mungovan is no stranger to leadership roles within the firm, having worked there for over 10 years. He currently oversees the firm’s securities litigation practice and is also a member of the executive committee. Additionally, he was the previous chair of the firm’s litigation department. Discover more about Mungovan’s professional background on his Proskauer profile.
When addressing his predecessor’s legacy at the firm, Mungovan acknowledged the valuable momentum gained under Ellis’s leadership. Looking ahead, he expressed an optimism for the future and a commitment to continuous progression across all practices within the firm. In a brief statement to the American Lawyer, Mungovan stated, “From cutting-edge transactions to high-stakes litigation and trials, there is significant opportunity across all our practices. I look forward to working with everyone at the firm to continue to execute on our strategic vision.”
Ellis also made a statement, expressing his confidence in Mungovan taking the reins and his belief that Proskauer will continue to thrive as a leading firm attracting both talent and clients worldwide. During his leadership tenure, Ellis navigated the firm through the unprecedented challenges presented by the pandemic and guided the firm to its highest grossing year ever in 2021. In the following year, Proskauer reportedly grew by 6.1% and outperformed previous financial benchmarks regarding total revenue and profits.
This article stands to congratulate both Steven Ellis for his valuable contributions to Proskauer and Timothy Mungovan on his elevation to the pinnacle of the law firm. With Mungovan’s anticipation for future success, the shift in leadership at Proskauer is indeed marking the beginning of a promising new chapter. For more details on Mungovan’s elevation, check the full article from the American Lawyer.