Legal affairs director and BU partner | MYTILINEOS
Spyridoula Megalokonomou
Legal affairs director and BU partner | MYTILINEOS
Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?
Due to the nature and diversity of the business, innovation is often a necessity. On multiple occasions, we developed unprecedented templates, such as aggregator services for electricity and comprehensive power purchase agreements, which were, in some cases, groundbreaking within the Greek market. We often accomplished these innovations without the assistance of external counsel. These innovations allowed us to respond quickly to our internal client’s needs and at the same time resulted in considerable time and cost savings for our legal team.
Other noteworthy innovations include the digitisation of our team’s library and our firm’s legal archive material, the creation of a dedicated platform for the ongoing registration and updating of documentation for both existing and newly formed group entities, and the implementation of a comprehensive evaluation process for the firm’s external law firms internationally – all of which were achieved with limited assistance from third parties.
What are the most significant cases or transactions that your legal team has recently been involved in?
Last year, as is customary, our group legal team undertook significant complex and demanding work involving various types of cases and transactions. This included significant litigation and international arbitrations involving construction projects, supply contracts, and class actions, as well as successful settlements. We also effectively managed public authority audits, played a key role in the rapid implementation of innovative new products, in acquiring numerous large-scale land plots for our projects, in contributing to the necessary due diligence and documentation for the issuance of listed bonds. In addition, we have been involved in several mergers and acquisitions of various entities.
How important is choosing to work with external lawyers who align with your company’s values? Are you likely to reconsider what firms you work with based on this?
Having served as external legal counsel myself for years, I can understand their concerns when working with clients. I know what to anticipate and assess their contribution. Aligning our outside counsel with our business values, and especially our culture, is paramount to our partnership. We highly value those external lawyers who possess a global perspective on industry-specific issues and trends, are responsiveness, possess the ability to provide business-friendly, practical solutions that turn them into deal makers rather than deal breakers, and who demonstrate proactivity in minimising legal costs and administrative hurdles. All these factors are critical in our selection process. In addition, other, more human considerations such as ESG initiatives, inclusion and diversity policies and practices also play a role.