Millard will succeed William Dougherty, who has served as the firm’s governing executive committee chair for almost a decade. According to Simpson Thacher’s website, Dougherty remains at the firm as a partner.
“Simpson Thacher is widely regarded for its legal expertise, outstanding client service and creative and collaborative culture, which enable us to assist clients with their most important matters. A strategic lawyer and trusted advisor, Alden embodies those qualities and will be a tremendous leader of the Firm and a major asset to our clients in his new role,” said Dougherty in a statement. “It has been an honor to have served as Chair of Simpson Thacher’s Executive Committee, and I am very pleased to pass the torch to such a highly esteemed colleague.”
Under Dougherty’s nine years of leadership, Simpson Thacher thrived financially. After Dougherty took on the role of chair in 2013, the firm’s revenue increased to $2.2 billion from $1.1 billion. The average equity in partner profits, meanwhile, grew to approximately $6 million and the firm’s attorney headcount reached over 1,1000 lawyers. This is according to data from ALM Media.