Current PepsiCo general counsel and former U.S. Deputy Attorney General Larry D. Thompson is quietly but inexorably redefining what it means to be successful in today’s legal industry.
“Increasingly, organizations are realizing that diversity is not just the ‘right thing to do,’ but an important ingredient that will allow organizations to serve their clients better.”
-Larry D. Thompson
Thompson, who graduated law school with Pitney Bowes’ Mayes, built his impressive career by making the most of the opportunities presented to him, something he says has led him to take three pay cuts in the course of his career. “Is this success?” asks Thompson. “Perhaps not for some, but I’ve followed the luck and opportunities as they’ve come,” making moves that have honed his broad array of legal and leadership skills and made him one of the most respected and experienced lawyers in the United States.
From private practice, to the most senior levels of the U.S. government, to a public corporation, Thompson’s point of constancy lies in his ability to rise to the top. He began at the law firm of King & Spalding, and then, during the Reagan Administration, accepted an invitation to serve as U.S. Attorney in Atlanta. He returned to private practice in 1986, this time as a partner at King & Spalding, where he remained until his appointment to deputy attorney general in 2001. While at the U.S. Department of Justice, Thompson headed the National Security Coordination Council and Corporate Fraud Task Force, and was selected by the press as the leading candidate to succeed former U.S. Attorney General John Ashcroft.
But destiny intervened when Thompson made the decision to join the private sector following a period of reflection. “I was in the government at an historic time, when we had to deal with 9/11 and the corporate scandals—a very intense period,” says Thompson.
Upon his resignation as deputy attorney general, Thompson “took the advice of friends” and joined the Brookings Institution, then taught for a semester at the University of Georgia School of Law. “It allowed me to reflect on what I had done and what I wanted to do.”
He opted to join PepsiCo, succeeding David Andrews in heading the corporation’s 92-lawyer legal department. Despite industry-specific differences, Thompson is finding his new responsibilities similar to other roles he has assumed throughout his career. “In any leadership position—whether heading a private firm or the Department of Justice,” says Thompson, “you have to listen to the people you work with, understand their issues, understand your client, understand the legal issues and know how to deliver the best services to your client.”
Behind PepsiCo’s success as one of the world’s largest food and beverage companies—with annual revenue of $29 billion—lies an entrenched belief in the value of diversity. In its 2004 annual report, PepsiCo terms diversity and inclusion as a “fundamental strategic priority,”8 and, to date, women and minorities account for 21 percent each of senior management, and 23 percent and 34 percent, respectively, of directors on the board.
The company’s approach to diversity corresponds closely with Thompson’s diversity efforts in the government. “When I launched the diversity program at the Department of Justice, we saw that we dealt with a number of diverse constituencies—from judges and issues, to defendants and juries,” says Thompson. “There was no way we could truly represent the United States without having a diverse attorney workforce.”
Thompson continues, “I have been practicing law for 31 years and, unfortunately, diversity is still an issue. I am, however, beginning to see more and more organizations, both in the public and private sectors, that understand the different dimensions of diversity,” he says. “Increasingly, organizations are realizing that diversity is not just the ‘right thing to do,’ but an important ingredient that will allow organizations to serve their clients better.”
Thompson’s broad work experience has lent him a bird’s-eye perspective on the legal industry. He laments that many attorneys limit their future possibilities by making their decisions on where to practice based primarily on money. He advises attorneys to take opportunities that develop skills and experience with different situations-not just those positions that offer the most money. Above all, Thompson recommends, “Protect your professional reputation. Deal honestly with people and be straight up.”
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From the May/June 2005 issue of Diversity & The Bar®