About

The global legal team of global chemicals manufacturer Huntsman, comprises of over 100 personnel that includes compliance experts and non-legal professionals. The Advanced Materials legal team, comprising of 12 people based in Switzerland, has been instrumental in the restructuring program that Huntsman division has undergone in the last few years. The legal team was very critical to supporting the restructure and the return to profitability, helping the business make sometimes tough decisions. The division is currently transforming how they think about commercially targeting different industries with a different risk reward profile. The Advanced Materials legal team is again essential in helping the division think through how contracts and liability are dealt with, helping the business to understand potential risks. Patrick Verraes, divisional counsel and head of legal for Advanced Materials, believes that ‘this is how we now do our job. We pull the legal team out of its traditional boundaries, it puts us in an environment where we are coping with new challenges’. The team has been fundamental in the implementation of a new risk profile, demonstrating its ability to think in line with the business’ objectives while providing excellent, concise advice. This has been a challenge but also an advantage for the team: ‘This now means that we’re expected to watch costs not cut costs. The process is so intense and high energy that you can’t cut on personnel, not after this has been rightsized in the previous restructuring’. With over 15,000 employees worldwide, and 2,000 employees worldwide within the Advanced Materials division, the team has been part of the company’s growth. It has nonetheless managed to re-focus on answers that are strategic and advantageous to the selling of assets, contributing to its revenue of over $10bn. While sitting organisationally in an independent function, these lawyers are proximate to their business counterparts geographically and are fully integrated into the flow of information and decision-making. As such, they exemplify the principle that good data leads to good decisions. No-one has to explain the dynamics of a particular problem to them because they see it first-hand and can render prompt and relevant advice.