Philippa Stone is a partner of Herbert Smith Freehills, a major international law firm, where she specialises in equity raisings and mergers and acquisitions. She is Joint Global Head of the firm’s Capital Markets group. She is also a member of the Takeovers Panel and the incoming Chair of the Law Council of Australia’s Corporations Committee. She is also a Panel member of Adara Partners, a for-purpose financial advisory firm whose fees go to provide natal care, education and other assistance in disadvantaged communities in Nepal and Uganda. She was a member of the Commonwealth Government’s Business Regulation Advisory Group on the CLERP 9 reforms and a member of the ASX’s Appeals Tribunal, as well as a non-executive director of the Civil Aviation Safety Authority, a member of the International Air Services Commission and a non-executive director of Airservices Australia. She was also a director of David Jones Limited prior to its takeover by Woolworths.