ACC, in partnership with Exterro, is pleased to announce the launch of the 2022 Chief Legal Officers Survey report.
This extensive report represents the views of 861 chief legal officers and general counsels from 38 countries and representing 20 separate industries and provides crucial insight into the evolving role of the CLO and the state of corporate legal departments globally.
The disruption of the global pandemic and complexity of other challenges facing today’s businesses have accelerated unprecedented growth in the CLO’s range of responsibilities, and the 2022 report provides new insights into the growing scope of CLO responsibilities as an integral business partner.
In the report, respondents noted the need to devote more legal resources to significant transactions (M&A, spin-offs, etc), focus on cybersecurity, compliance, and data privacy (highlighted as the most critical areas for the business), anticipate greater workloads due to increased regulatory enforcement, and further navigate ESG-related issues in 2022. With more corporate functions to oversee, CLOs plan to increase capacity in their legal departments, which includes hiring more staff across the board and increasing investments in legal operations.