For some years now there has been a quiet and uneasy controversy within firms as to whether to limit the tenure of the firm leader. For me this has been a rather amusing question given the lack of internal adulation accorded most managing partners. Here we have an important leadership role that people aren?t exactly chasing after and one that isn?t always internally accorded the respect that it perhaps rightfully deserves; and then we impose artificial limits on the tenure of the incumbent. Does this make any sense? Well, there are some compelling arguments both for and against.
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