We announced last month that Heidi Carpenter will take hold of the reins as CEO on July 1, 2022, and that Bob Fafinski will be transitioning to his new role as Chairman of the Board and will continue leading the firm, practicing law, and serving his clients.
While it might sound like Bob will be sitting around and twiddling his thumbs while Heidi takes over, rest assured this is not the case. So what exactly will Bob be doing? Let’s ask him!
What does your new role as Chairman of the Board entail?
I will be officially turning over all day-to-day responsibilities for running FMJ to Heidi on July first. My new role as Chairman of the Board will be to participate on our Board of Directors, helping to guide the long-term strategic plan along with our leadership team.
I am not even close to retiring. I will return to practicing law full-time and also work on marketing and branding of the firm. My goal is to continue to build a strong network for the benefit of the firm and our clients.
A close friend of mine, whom I admire greatly, turned over a large business he founded and ran for more than 25 years to his successor. He gave me an image I have adopted using a baseball analogy. For the last 23 years, I have been the manager of the team. My new role will be to serve as the 3rd base coach at FMJ. I will be available to wave runners home or tell them to hold up. With Heidi as our new manager, I am certain our team will continue to win.
What are you most looking forward to in your new role?
Sleeping better! Seriously, for anyone who has led an organization, you understand the immense pressure of knowing that your shareholders and employees are counting on you to make good decisions. I’ve taken my responsibilities seriously for 23 years. I am looking forward to being more available to my clients and taking on the role of being a mentor to our younger lawyers and leaders.
What was one of the biggest challenges you faced as FMJ’s CEO? How did it change you as a leader?
Probably two of them. The first one was during the Great Recession. Like many other law firms and businesses, our revenue was impacted substantially. I was so proud of my partners when we decided not to lay off any employees. We agreed to make less money to keep our employees employed.
The second, and most recent, was during the beginning of the COVID-19 pandemic. In a weird way, it was the most exhilarating time to lead an organization. In the first week of the pandemic, our revenue fell 67%. During the second week, revenue fell 35%. We went into cash preservation mode and were managing hour-to-hour. But our business came roaring back and the management challenges quickly changed to “how will we keep up with demand?”. Since the middle of 2020, our practice has been booming. This is the perfect time to turn things over to Heidi.
How do you continue to grow and develop as a leader?
I view careers in three stages. The first is learning, especially as an attorney. It takes a long time to get to a point where you can handle matters independently for clients from start to finish. You have to be a sponge and learn everything you possibly can about the practice area you intend to specialize in.
The second stage is execution. This is the stage where you excel at what you have learned to do.
The third stage is the one I am entering. That is the “give back” stage. To me, that means, being a good mentor to others and trying to leave a positive mark on your organization.
Any advice for Heidi as she transitions to CEO?
Heidi is in the position she is in because she has done so many things right. Mostly, I would tell her to be a good listener and then be prepared to make difficult decisions. Every leader makes mistakes, and when you do, it is best to admit them, forgive yourself, learn from them, but then move on.
If you have any questions about Bob’s new role, he can be reached at robert.fafinski@fmjlaw.com.
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