Sheldon Bonovitz is stepping down as chairman of Duane Morris after a 10-year run in which he tripled the size of the law firm, opened numerous domestic and international offices and doubled partner profitability, the firm announced Thursday.
He will be succeeded by longtime litigation department chairman John Soroko, who was named vice chairman and Bonovitz's likely successor two years ago.
From 1997 through 2006, Duane Morris, which has a Pittsburgh office Downtown, saw its profits per equity partner (PPP) rise from $273,000 to $730,000 and revenue per lawyer (RPL) grow from $325,000 to $600,000.
Bonovitz, 70, is a tax lawyer and has been with the firm since 1962. He is four years past the firm's mandatory retirement age from the partnership, but stayed on as chairman even though he holds the title of counsel. Soroko said Bonovitz will serve as chairman emeritus and will remain active in firm activities.
Soroko, 56, a native of Buckingham, Bucks County, has been with the firm since graduating from New York University Law School in 1977. He has led the nearly 300-lawyer litigation department since 2002. Matthew Taylor will become the new litigation department chairman. |
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