How do you feel the pandemic has changed the world of work for in-house counsel and the function of the general counsel?

The most evident effect of the Covid-19 pandemic on Cementir Group has been the shift in the type of tasks requested by internal clients. In our company, the main legal activities have always been M&A-driven or at least broadly related. It has changed dramatically throughout the pandemic, and the role of the in-house team has transitioned to become more ‘strategic and advisory,’ finding new ways to help the business daily. As a team, we have never been exclusively compliance focused. Now, we feel that we are business partners more than ever. On many occasions, we worked alongside businesspeople, trying to help them overcome difficulties and find solutions together. The role of general counsel has changed as well – they have taken part in decision-making at the highest levels ever since. The role has become more strategic over the pandemic, with a more proactive approach to risk mitigation and management. Another major change was remote working. Many team members found working from home more efficient than in the office. It has been a fantastic opportunity for our team to show their true value and contribution to the success of the company.

What are the most significant cases and transactions that your legal team has recently been involved in?

We have been involved in an interesting acquisition of a huge ready-mix conglomerate in Turkey. After two years of absence, because of the pandemic, the acquisition has marked our return in the international M&A market. It was a great opportunity for colleagues across our company to come back and work together.

What do you feel are the pros and cons of an in-house legal role compared to a private practice one?

In-house legal lawyers are an integral part of the business, and that is one of the main differences between the roles. As an in-house lawyer, you know your client better than you would as an external counsel, and it can allow you to provide faster and tailored advice. Moreover, you are actively involved in the decision-making process in which the advisor is the final risk-taker. Concerning the cons, because you are quite involved in the company, sometimes you may feel forced to think less independently. You will often feel pressured to demonstrate that you are part of the team and must add value to the business, rather than simply being seen as a cost center. In the last period, general counsel has been perceived as strategic advisors, to the point of claiming seats in big companies’ boards.