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Simon Power, Minister of Commerce
31 January 2011
Commerce Minister Simon Power today announced the reappointment of David Jones as chair and Colin Giffney as deputy chair of the Takeovers Panel.
"I am pleased that both Mr Jones and Mr Giffney have agreed to continue on the panel until the end of September next year," Mr Power said.
"The panel's work is highly regarded and the institutional knowledge Mr Jones and Mr Giffney provide is invaluable."
Mr Power also announced that two new members Simon Horner and Roger Wallis are joining the panel for five-year terms, beginning tomorrow.
"Both are recognised takeover law practitioners who will further strengthen the panel's existing expertise."
Mr Horner will replace Kevin O'Connor, whose term expired last June, while Mr Wallis will replace John Waller, who retires from the panel today.
Mr Power acknowledged the contributions of Mr O'Connor and Mr Waller contributions to the panel.
David Jones is founding partner of law firm Jones Young. He has been in legal practice for more than 30 years. He was appointed to the Takeovers Panel advisory committee in 1991 and has been a member of the panel since its formation in 1995, serving first as deputy chair, and from 2007 as chair. His career has spanned the practice of company law and takeovers, finance, in academia, and as chair and board member of various companies.
Colin Giffney has been on the panel since 2001, serving as deputy chair since 2008. He is a principal at Giffney and Jones and is on the board of several organisations, including chairman of Renaissance Corporation and Solution Dynamics.
Simon Horner is a lawyer with just under 25 years' experience in the corporate and commercial fields. He is a partner with Mayne Wetherell where he has been since 2004, and was previously a partner at Russell McVeagh.
Roger Wallis has been a partner at Chapman Tripp since 2000. He is a member of the Listed Companies Association executive and the New Zealand Institute of Directors and is a current member of the board of Chapman Tripp. He teaches the University of Auckland law school's paper on mergers and acquisitions.
The Takeovers Panel was established under the Takeovers Act 1993. The panel is responsible for carrying out enforcement functions under the Act, administering the Takeovers Code and making recommendations to the Minister for changes to takeovers law. The panel acts as the regulator of the corporate takeovers market, and has an important role in assisting the government to achieve its goals by ensuring transparent and equitable takeovers processes. This results in reduced transaction costs for domestic and international investors, and increased confidence in the integrity of the New Zealand takeovers market.