Terry Farrell reveals succession plans
Terry Farrell has unveiled three new partners and a new structure for his AJ100-ranked practice
The 74-year old star set out the future trajectory of the company following a guest speech at the AJ100 Awards which took place this week in London.
The practice which was established in 1980 and was responsible for the design of high-profile London landmarks including One Embankment Place and the MI6 building will become an LLP with three new partners.
Three long-term directors – Gary Young, Nigel Bidwell and Peter Barbalov – join John Letherland, Mike Stowell and Neil Bennett to form a six-strong partnership.
The practice will change from a limited company to an LLP as part of a bid to ensure ‘continuity’ and the ‘ability for staff to share in the future success of the practice’.
Members of the LLP will also have ‘collective and joint responsibility for its future’ according to a statement from the company.
Terry Farrell said: ‘I am really enjoying this period in my career with some amazing projects and very talented people around me. I intend to remain actively involved in the running of the practice and to continue to play a day to day role in design development for many years to come. I am, however, glad to have reached the point where the future of the practice has now been mapped out and I believe it is in very safe hands.
‘John Letherland and Mike Stowell have been board directors alongside me for over a year now and I have a huge amount of admiration and respect for them both. We have recently made Neil Bennett, Gary Young, Nigel Bidwell and Peter Barbalov into partners. [The six partners] between them have been with the practice for over 160 years - which is quite extraordinary these days!! It is a testament to their long term commitment and loyalty to the firm.
‘We also have many younger people coming through who will help ensure the legacy of Farrells as the UKs leading architect planners is continued. In creating an LLP (Limited Liability Partnership), we believe we have also found the right business model to ensure continuity and longevity and a means for all of our employees to share in it’s future.’