DATE: May 15, 2018
CLEVELAND … Power management company Eaton today announced the Association of Corporate Counsel (ACC) has named the company a 2018 ACC Value Champion. Eaton’s legal department earned the award for its Strategic Alliance Initiative, which focused on budget discipline, outside counsel consolidation, diversity, contracts management, lessons learned and pattern litigation efficiency.
“As a legal team, we strive to build strong strategic partnerships with legal service providers, drive initiatives that maximize efficiency and decrease costs, improve overall predictability for our businesses and deliver exceptional results for Eaton,” said Heath Monesmith, Eaton executive vice president and general counsel. “We are honored to be recognized as a Value Champion by our peers at the Association of Corporate Counsel.”
As part of the initiative Eaton restructured the legal department, adding strategy-focused teams to drive learning, develop best-in-class people, promote efficiency, increase innovation, and enhance client focus. The “Cost-Out” team revamped its outside counsel strategy and built sustainable, value-enhancing processes to manage outside counsel and maximize spend predictability. The company significantly consolidated outside litigation counsel by 80 percent over the past four years and decreased litigation report cycle time by 40 percent. Eaton’s legal team also reduced legal costs by 11 percent year-over-year.
“To be considered best-in-class, a law department must move at the speed of the business client, optimizing every process, controlling every cost, taking advantage of every available piece of data,” said Catherine J. Moynihan, associate vice president of legal management services at ACC. “These Champions use leading management practices – writing applications, leveraging AI, and applying sophisticated sourcing and staffing models – to help the businesses they serve succeed.”
The complete list of the 2018 ACC Value Champions, along with additional details related to Eaton’s submission, can be viewed online at: www.acc.com/valuechampions.
Eaton is a power management company with 2017 sales of $20.4 billion. We provide energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton is dedicated to improving the quality of life and the environment through the use of power management technologies and services. Eaton has approximately 96,000 employees and sells products to customers in more than 175 countries. For more information, visit Eaton.com.
The Association of Corporate Counsel (ACC) is a global legal association that promotes the common professional and business interests of in-house counsel who work for corporations, associations and other organizations through information, education, networking opportunities and advocacy initiatives. With more than 43,000 members in 85 countries employed by over 10,000 organizations, ACC connects its members to the people and resources necessary for both personal and professional growth. By in-house counsel, for in-house counsel.® For more information, visit www.acc.com and follow ACC on Twitter: @ACCinhouse.
Contact: Scott Schroeder, +1 440-523-5150