On 30 September 2016, long-time Panel member David Jones stood down as Chairman of the Panel. The Panel would like to recognise David for his years of service and his contribution to New Zealand’s business regulatory environment.

David was a member of the Takeovers Panel Advisory Committee when it met for the first time on 18 November 1991. Since that inaugural meeting, he has attended 128 out of a total of 135 Board meetings held by the Advisory Committee and the Panel up to the time of his retirement. David chaired the Panel’s first enforcement meeting under section 32 of the Takeovers Act 1993; the Allied Domecq PLC/Millstream Equities Limited section 32 meeting in respect of Allied Domecq’s bid for Montana Group (NZ) Limited, which commenced with notice of the meeting being given by the Panel on 1 July 2001, the day that the Takeovers Code came into force. David also chaired the second section 32 meeting later that month in respect of Lion Nathan’s competing bid for Montana. In total, since the Code came into force in 2001, he has attended some 810 Panel division meetings. David was appointed Deputy Chairman of the Takeovers Panel in 2000, and became Chairman in 2007.

David’s contribution to the development and success of the Panel and the Code, and consequently the confidence of New Zealand’s capital markets, cannot be overstated.

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