Farrell has been a member of the Panel for the last decade, and her elevation to president marks the first time a practicing lawyer has been appointed to the role.

Chris Bowen, the Federal Minister for Financial Services, Superannuation and Corporate Law made the announcement at a dinner last night (3 August) to mark the 10^th anniversary of the Takeovers Panel. It was previously known as the Corporations and Securities Panel from 1991 to 2000.

Farrell's appointment will begin on 1 September.

"Kathy has considerable experience in mergers and acquisitions, commercial law and policy," said Takeovers Panel director Allan Bulman. "The panel looks forward to Kathy's leadership and guidance in her new role."

Farrell has a long standing association with Freehills. In 1984 she was one of the first female partners appointed by the firm. She stepped down from the partnership in 2000, but has continued to work for Freehills as a consultant. Farrell is also a director of the Australian Institute of Management (NSW and ACT), a past chair of the Business Law arm of the Law Council of Australia and a former board member of the Colorado Group and Pacific Power.

Farrell replaces Simon McKeon as president of the Panel. McKeon has been appointed as chair of the CSIRO.

The Takeovers Panel has over 50 members, and includes many of Australia's most well known lawyers. David Friedlander from Mallesons Stephen Jaques, Ewen Crouch from Allens Arthur Robinson and Sarah Dulhunty from Blake Dawson are current members of the Panel.