Senior legal business partner – energy segment | Metlen Energy & Metals S.A.
Spyridoula Megalokonomou
Senior legal business partner – energy segment | Metlen Energy & Metals S.A.
Team size: 12
What are the key projects that you have been involved in over the past 12 months?
Metlen is a very diversified and pioneer group, and I must say that since I joined them there has not been any period which one could describe as dull. The past 12 months have been a very challenging period, mostly because of the listing of the group on the London Stock Exchange but also because of the changing landscape in the energy sector globally. We have now been busy with the various challenging aspects of the battery energy storage system. This new business requires from our legal team the implementation of new regulations, creation of new project contracts, some of which bespoke for the domestic market, such as tolling arrangements, cross functional collaboration, exercise of creative thinking and solutions-oriented mindset. Our electricity and natural gas supply business has also kept us busy and excited exploring new opportunities and approaches both on the buy and sell side, in view of significant shifts in the market and of the changing demands of our clientele.
How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?
Managing legal aspects during periods of crises is not magic and cannot be conducted successfully, unless three conditions are met: the internal legal team has a profound understanding of the company’s business, success factors and risks; the internal legal team knows well the internal anthropogeography and empathetic interaction between those is possible; and the legal team is prepared and has prepared the organisation for the confrontation of the risks from a legal perspective.
Instead of waiting for crises to unfold, adopting a proactive approach is crucial for handling challenges. A proactive crisis management approach begins with identifying and pointing out vulnerabilities from the outset, when the business strategy is determined. Legal strategy in anticipation of, but also during, crises goes hand in hand with business strategy, since the goal is common, the promotion of the company’s interests and the restoration of normality.
Thoughtful consideration of regulatory and compliance matters, business continuity ensured by keeping records of circumstances at the time contracts where executed, thorough review and negotiation of contracts, and trainings, are powerful tools in times of trouble. Establishing strong relationships of various teams and clear allocation of responsibilities is also fundamental to crisis management and must have been prepared before any big bang. In conclusion, experienced legal professionals with not only technical but also managerial skills are indispensable for robust and successful crisis management, which will ensure that the company will navigate challenges with resilience and emerge stronger.
What do you think are the most important attributes for a modern in-house counsel to possess?
It has been believed that in-house counsel were employed and promoted primarily based on their technical legal skills. Nowadays, however, the role of in-house counsel has become multifaceted, which means that they need to work based on a new set of abilities that will allow them to become not only trusted consultants but also valuable leaders. The key traits that enable in-house counsel to reach their full potential are: business acumen, being effective communicators, and good relationships and collaboration.
To be an effective in-house counsel you need to have a real understanding of the mechanics of the business of your client, an insight of the company’s profit and loss statement, the larger industry in which it operates, its growth strategy, and how market trends might impact its business objectives. In-house counsel need to be able to frame their decisions within the context of not only what is compliant but also of what is good business for the company they represent, to be able to detect a risk and assess whether it is acceptable.
In-house counsel will regularly interact with people across the entire organization, from C-suite managers and corporate boards to entry-level employees, from financiers to people with technical background, so they must be able to translate legal speak into plain words. They must respect time available for their audience and decide how much information to share — and with whom and when and how to provide it.
Collaboration is underpinned by trust, which comes with communicating honestly, honoring one’s commitments, being helpful, and importantly, showing people that one cares. An effective in-house counsel contributes to or creates a culture that values honest, two-way communication. Having strong working relationships will allow for a more thorough understanding of how the business works, which will make the provision of correct and helpful legal advice easier.
Legal affairs director and BU partner | MYTILINEOS