Steve Barnes, who was CEO of the law firm Pepper Hamilton, has announced his retirement after 13 years at the firm.

Barnes, 51, will leave his role as chief corporate counsel for the firm, which he joined in 2015, and his role with the firm will now be handled by its partner, Robert Neeley.

Barnett was appointed to the role of chief corporate lawyer in 2016, and was the first partner of Pepper Hamilton when the firm was founded in 2001.

The firm was valued at $5 billion in 2014, according to Forbes magazine, and its valuation jumped to $8.5 billion by 2020, when the value of its stock dropped from $26 per share to $7.50 per share.

Barnetts family, who has run the law firms Pepper Hamilton and Rogers Barnes for decades, said in a statement on Monday that they are “heartbroken” to announce Barnes’ departure from the firm and will “continue to do everything we can to assist the family with any questions or concerns.”

Barnes had previously announced he was stepping down as CEO in March of last year.

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