The Panel comprises up to 34 members, representing a spread of expertise in takeovers, securities markets, industry and commerce. The Chair, Deputy Chairs and up to 20 other Panel members are appointed by the Panel on the recommendation of the Nomination Committee. In addition, 10 Panel members are appointed by the following major financial and business institutions:
- The Association for Financial Markets in Europe
- The Association of British Insurers
- The Association of Investment Companies
- The Confederation of British Industry
- The Institute of Chartered Accountants in England and Wales
- The Investment Association
- The Personal Investment Management and Financial Advice Association
- The Quoted Companies Alliance
- UK Finance (with an additional appointee also for its Corporate Finance Committee)
The Chair and at least one Deputy Chair are designated as members of the Hearings Committee. Of the other members appointed by the Panel, up to 12 Panel members are designated upon appointment as members of the Code Committee and up to eight Panel members are designated upon appointment as members of the Hearings Committee. The Panel members appointed by the bodies listed above become members of the Hearings Committee without further designation.
No person who is or has been a member of the Code Committee may simultaneously or subsequently be a member (or an alternate of a member) of the Hearings Committee.
The current Panel members are as follows:
| Member | Role | Appointment | Alternates |
|---|---|---|---|
| Michael Crane KC | Chair | Appointed by the Panel | |
| Justin Dowley | Deputy Chair | Appointed by the Panel | |
| Jessica Ground | Deputy Chair | Appointed by the Panel | |
| Chris Saul | Deputy Chair | Appointed by the Panel | |
| Mark Armour Former CFO, RELX | Appointed by the Panel | ||
| Claudia Arney Chair, Deliveroo | Appointed by the Panel | Adam Signy | |
| William Brooks Past President, Institute of Chartered Accountants in England and Wales | Appointed by the Institute of Chartered Accountants in England and Wales | Joseph Katz, Helen Roxburgh, Simon Russell | |
| James Brotherton CFO, Breedon Group | Appointed by the Quoted Companies Alliance | Michael Higgins, Tim Ward | |
| Lord Deben Chairman, Personal Investment Management and Financial Advice Association | Appointed by the Personal Investment Management and Financial Advice Association | Gary Bottriell, Ruthven Gemmell | |
| Joao Freitas Senior Adviser, HBK | Appointed by the Panel | ||
| Liv Garfield CEO, Severn Trent | Appointed by the Panel | Adam Signy | |
| Richard Godden Partner, Linklaters | Appointed by the Panel | ||
| Michael Hatchard Retired Partner, Skadden, Arps, Slate, Meagher & Flom | Appointed by the Panel | Adam Signy | |
| Robert Hingley Chairman, Law Debenture | Appointed by the Panel | ||
| Cressida Hogg Chair, BAE Systems | Appointed by the Panel | Adam Signy | |
| Gordon Humphries Chair, Association of Investment Companies | Appointed by the Association of Investment Companies | Sapna Shah, Elisabeth Scott | |
| Richard Iferenta Vice Chair, KPMG UK | Appointed by the Panel | ||
| Susan Kilsby Senior Independent Director, Diageo | Appointed by the Panel | Adam Signy | |
| Moni Mannings Non-Executive Director, Hargreaves Lansdown | Appointed by the Panel | ||
| Rosemary Martin Former Group General Counsel and Company Secretary, Vodafone Group | Appointed by the Panel | ||
| Lord Monks Former General Secretary, The Trades Union Congress | Appointed by the Panel | Kay Carberry | |
| Barry O’Dwyer Group CEO, Royal London | Appointed by the Association of British Insurers | Bronek Masojada | |
| Stuart Ord Co-Head of M&A, Deutsche Numis | Appointed by UK Finance (Corporate Finance Committee) | Sian Evans | |
| Jean Roche Fund Manager, Schroders | Appointed by the Panel | ||
| Mark Sorrell Co-Head of Global M&A, Goldman Sachs | Appointed by the Association for Financial Markets in Europe | Mark Seligman | |
| Patrick Thomson Chair, the Investment Association | Appointed by the Investment Association | Chris Cummings | |
| Tim Waddell Former Vice Chairman, Corporate & Investment Banking, Bank of America | Appointed by the Panel | ||
| Emma Watford Partner, Bridgepoint | Appointed by the Panel | ||
| Robert Wigley Chair, UK Finance | Appointed by UK Finance | Conor Lawlor |