New York, NY, August 18, 2010 — Hughes Hubbard & Reed Chair Candace K. Beinecke announced today that Charles H. Scherer will retire as the firm’s Managing Partner of more than 20 years, effective January 1, 2011. Theodore V.H. Mayer, a long-time member of the firm’s Executive Committee who currently co-heads the firm’s Litigation Group, will be the firm’s new Managing Partner. Day-to-day management duties will be handled by the firm’s Chief Operating Officer, Gerard F. Cruse, who has more than 20 years of experience in law firm management and joined Hughes Hubbard from Apollo Global Management where he had been Global Director. Mr. Mayer will continue to maintain his active litigation practice.

Ms. Beinecke also named two Deputy Chairs, Mr. Mayer and Kenneth A. Lefkowitz to advise on strategic and practice-management issues. Mr. Lefkowitz co-heads the firm’s Corporate and Mergers and Acquisitions groups and also is a long-time member of the Executive Committee.

“Chuck is a true renaissance man in business,” Ms. Beinecke said of Mr. Scherer. “He’s brilliant in the law, finance and management. He’s guided us through more than 15 straight years of record profits and we’ve been fortunate to have his talents.”

Mr. Scherer, who joined the firm from UPenn Law School in 1970, was made a partner in 1980 but left five years later to become General Counsel and Secretary of the Fortune 500 company Collins & Aikman. In 1987, he became Chief Financial Officer of the company, which later merged. Mr. Scherer returned to Hughes Hubbard as Managing Partner in 1989.

“We have a successful tradition of team leadership,” Ms. Beinecke added, “and that will make the transition easier. Having top practitioners like Ted and Ken as advisers, with their deep, hands-on litigation and corporate experience, will provide us with a valuable perspective on strategic practice issues.”

Mr. Mayer has been a member of the firm’s Executive Committee for 14 years and cohead of its Litigation Department since 2007. His practice is focused on the defense of complex litigation. Among many other such matters, he has headed the firm’s defense of Merck in the Vioxx litigation.