Delaware's Court of Chancery is losing one of its vice chancellors.
Donald F. Parsons, Jr. announced he'll step down when his 12-year term wraps up in October. He's one of five people presiding over Chancery Court, known for its influence on corporate law in the US.
"It is a bittersweet occasion for me to advise you that I have decided not to seek reappointment when my term as Vice Chancellor expires," Parson wrote in a letter of Gov. Markell a week ago.
Parsons was a partner at a Wilmington law firm for many years before being appointed as a vice chancellor by former Gov. Ruth Minner and confirmed by the state Senate in 2003. He's also served as president of the state bar association.
In a statement, current Gov. Markell thanked Parsons for his service.
“The Vice Chancellor’s decision to retire from the Court is a substantial loss to both the Court of Chancery and our state,” said Markell in his statement. “I am pleased the Vice Chancellor has indicated he will continue serving the public after he leaves the court and that his contributions to our State, already significant, will continue. I wish the Vice Chancellor the best of luck in his future endeavors."
Parsons hasn't specified any future plans, but state Supreme Court Chief Justice Leo Strine, who served with Parson on the Court of Chancery, says in a statement that he expects to still call on Parsons' expertise going forward.