Takeovers Panel gets new president
The Minister for Financial Services and Superannuation, Chris Bowen, has announced the appointment of Kathleen Farrell as president of the Takeovers Panel from 1 September, 2010.
Farrell will replace the outgoing president, Simon McKeon, who will now perform his new role as chair of CSIRO.
Bowen congratulated Farrell on her appointment, which was formalised by the Federal Executive Council last month, prior to the Government entering caretaker mode.
"Kathy is well-acquainted with the panel, its members and procedures, having served as a member of the panel between 2001 and 2010," Bowen said.
Farrell has been a consultant to Freehills in the firm's Sydney office since July 2000. Prior to that, she spent 17 years as a partner at the firm, specialising in mergers and acquisitions and securities offerings.
Farrell is also a director of the Australian Institute of Management (NSW and ACT) Limited.
The purpose of the Takeovers Panel is to provide a mechanism for peer review of takeovers activity with the aim of being more efficient, less formal and less costly than court action.
The functions and powers of the panel are conferred by the Corporations Act 2001 and the Australian Securities and Investments Commission Act 2001.
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