Takeovers panel gets new chairman

Takeovers Panel deputy chairman David Jones has taken over as chairman after the retirement of John King.

Jones said his four-year appointment would mean "business as usual" for the panel, adding he shared the same philosophy as King on the code's application and general principles.

King's involvement in monitoring takeovers included the initial panel set up in 1993, the reactivation of the Takeovers Panel in 2000 and the introduction of the code in 2001.