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Sheldon Bonovitz has stepped down as chairman of Duane Morris after 10 years. Replacing him Jan. 3 is John Soroko, who has served as vice-chairman of the Philadelphia-based firm since 2005. In an email sent Jan. 3 to employees and partners, Bonovitz said that his decision to move aside followed the development of a succession plan crafted by him and Soroko. Bonovitz also served as chief executive officer, a position Soroko will assume as well. When Bonovitz, 70, became chairman in 1997, Duane Morris had 236 attorneys, with profits per equity partner averaging about $273,000. The firm now has 612 attorneys. Profits per equity partner in 2006 were $730,000. Bonovitz graduated from Harvard Law School in 1962, the same year he joined the firm. His e-mail said that he planned to remain active in the law firm. His areas of practice include federal income taxation and corporate law, with particular emphasis on mergers and acquisitions. Soroko, 56, is the eighth chairman of Duane Morris and served as chairman of its 300-attorney trial practice group starting in 2002. He graduated from New York University School of Law in 1977.

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