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While it is not entirely common, in recent months there has been a trend of general counsel and chief legal officers becoming interim CEOs. The CLO of Fluor Corp., Carlos Hernandez, was named interim CEO earlier this month and some are speculating he will become the company's permanent CEO in the coming months. In March, longtime GC of Wells Fargo Bank, C. Allen Parker, was named interim CEO, though he will not be considered for a permanent position.

Jamy L. Sullivan, executive director of Robert Half Legal, said the insight a GC or CLO has from touching nearly every part of the business could give them the skills needed to lead a company. Sullivan further said the GC or CLO is often responsible for developing compliance programs in response to new laws and regulations. Someone who knows both business and compliance may be able to ultimately make the best decisions for the business.