Loeb & Loeb LLP announced today that John Frankenheimer will be stepping down as the firm’s Co-Chair, effective February 1, 2011. Frankenheimer, who announced to the partnership three years ago that this would be his final term as Loeb & Loeb’s Co-Chair, will leave the post after an illustrious 13 year tenure. Co-Chair Michael Beck will become the firm’s sole Chair.
Frankenheimer will serve as Chair Emeritus, while focusing on his robust music and entertainment practice, representing both institutional and talent clients on a range of complex corporate transactions, finance and lending matters, industry agreements, and distribution, licensing and publishing issues. He will continue in his role as Chair of Loeb & Loeb’s internationally recognized Music Industry Practice Group.
“It has been my privilege to serve as Co-Chair of Loeb & Loeb through an incredible period of growth and accomplishment for the firm,” commented Frankenheimer. “I am confident our success will continue under the expert direction of my friend and colleague Michael Beck and the other members of firm management.”
Frankenheimer, together with Jerry Levine, were elected Co-Chairs in 1998 as part of the firm’s adoption of a progressive, corporate-style governance structure. Michael Beck succeeded Levine in 2003. During his tenure, Frankenheimer instituted strategic policies that fostered steady growth across a mix of practices and put the firm in a position to improve its profitability through two recessions. Loeb & Loeb has seen revenue and profits rise steadily under his leadership, while expanding strategically in key client markets and practice areas. The firm has enjoyed 11 consecutive years of record profits. Measures of the firm’s performance during Frankenheimer’s tenure include:
- Revenues increased 184% from $84,500,000 (1998) to $239,800,000 (2009)
- Attorney headcount grew 71% from 182 (1998) to 311 (2010)
- New offices opened in Chicago, Beijing and Washington, DC
- Profits per equity partner increased 245% from $430,000 (1998) to $1,485,000 (2009)
- AmLaw ranking by profit per equity partner increased from 92 (1998) to 29 (2009)
“John is the architect and inspiration behind our strategy of focusing on excellence in our core practices and core industries,” said Beck. “Through a streamlined corporate management style and focused strategy, we have been incredibly successful. The firm will continue to focus on its strengths and I look forward to continuing the tradition of excellence we have built together.”
Loeb & Loeb LLP is a multi-service law firm with more than 300 attorneys focusing on select practice areas, rather than endeavoring to be all things to all clients. The firm is recognized as a leading law firm in the areas of advanced media; bankruptcy; business litigation; energy; entertainment; finance; intellectual property; mergers and acquisitions; private equity, real estate; securities; technology; and tax and wealth services. Loeb & Loeb has five domestic offices in Los Angeles, New York, Chicago, Nashville and Washington, DC, as well as a representative office in Beijing serving a rapidly growing number of Asian clients.