The Board of Directors of the Swiss Financial Market Supervisory Authority FINMA has appointed Jean-Luc Chenaux, Franca Contratto and Thomas Vettiger to the Swiss Takeover Board (TOB). Thomas Müller, currently a TOB member, will assume chairmanship, while Susan Emmenegger will remain Vice-Chair. Current members, Lionel Aeschlimann, Beat Fellmann, Susanne Haury von Siebenthal and Thomas Rufer have been reconfirmed. Current Chair Luc Thévenoz and TOB member Henry Peter will leave the Swiss Takeover Board at the end of 2015. Ultimate supervision and appointment of TOB members rests with FINMA’s Board of Directors.
FINMA’s Board of Directors has appointed the members of the Swiss Takeover Board for the next term of office (2016 to 2019). Newly appointed members are Jean-Luc Chenaux, Franca Contratto and Thomas Vettiger, all of whom will assume office on 1 September 2015.
- Jean-Luc Chenaux has been a lawyer since 1991 and a partner at Carrard & Associés, a law firm in Lausanne, since 2011. He specialises in private, corporate and financial market law and is a professor of corporate law at the University of Lausanne.
- Franca Contratto has been an assistant professor of financial market law at the Faculty of Law, University of Zurich since 2013. She was a member of the Financial Services Act expert group appointed by the Federal Department of Finance from 2012 to 2014. Before her appointment at the University of Zurich, she worked as a lawyer in the financial industry.
- Thomas Vettiger is a managing partner of a business consultancy company for corporate finance and is a board member of Clientis AG. Thomas Vettiger completed his doctoral degree in economics at the University of Zurich.
FINMA’s Board of Directors re-appointed Susan Emmenegger, Lionel Aeschlimann, Beat Fellmann, Susanne Haury von Siebenthal and Thomas Rufer for the next term of office (2016 to 2019). Thomas Müller will assume TOB chairmanship on 1 January 2016 and Susan Emmenegger will remain Vice-Chair. Both Luc Thévenoz, who has chaired the TOB since 2008, and Henry Peter, who has been a TOB member since 2004, will step down at the end of 2015. During his chairmanship, Luc Thévenoz contributed considerably towards establishing a practice consistent with the principles set out in public takeover law. FINMA’s Board of Directors extends its thanks to both Luc Thévenoz and Henry Peter for their strong commitment and important contribution to the Swiss takeover regime.
For the next term of office from 2016 to 2019, the Swiss Takeover Board will comprise:
- Thomas Müller, Chair
- Prof. Susan Emmenegger, Vice-Chair
- Lionel Aeschlimann
- Prof. Jean-Luc Chenaux
- Prof. Franca Contratto
- Beat Fellmann
- Susanne Haury von Siebenthal
- Thomas Rufer
- Thomas Vettiger
The Swiss Takeover Board has jurisdiction to issue general rules and ensure compliance with the provisions applicable to public takeover offers. As first instance, the TOB issues orders on public takeover bids. Overall supervision of the TOB is performed by FINMA’s Board of Directors. Its members include experts representing securities dealers, listed companies and investors.
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