Former Diageo CEO sells 3.9m-pound stake

1st Aug 2013 15:50

Paul Walsh, the former Chief Executive Officer (CEO) of Diageo who now serves on the board as an advisor, sold nearly four million pounds of shares in the drinks giant on Thursday, just one day after the Guinness maker impressed the market with a solid increase in annual net sales. Walsh, who was succeeded by new frontman Ivan Menezes at the start of July, exercised options over 200,000 shares under Diageo's Senior Executive Share Option Plan, then sold 190,000 of them at a price of 2,070p each for a total of £3.93m.The 10,000 left over were added to his existing holding, which increased to 779,660 shares.The former CEO is due to step down from the board in September and retire from the company next June. His role until then will be to transition critical partner and external relationships, including those essential to recent acquisitions, over to Menezes, the company said in May.The company delivered a 5.0% increase in net sales in the year to June 30th from £10.76bn to £11.43bn, in line with expectations, driven by strength in the North American market as well as continued double-digit growth in emerging markets. The Western European market however remained "challenging".Top Director BuysPanther Securities (PNS) Director name: Mr Andrew PerloffAmount purchased: 32,974 @ 297.50p Value: £98,098Blackrock Frontiers Investment Trust C Shs (BRFC) Director name: Mr Audley W Twiston-DaviesAmount purchased: 50,000 @ 100.00p Value: £50,000Taylor Wimpey (TW.) Director name: Baroness Margaret FordAmount purchased: 30,000 @ 106.00p Value: £31,800SEGRO (SGRO) Director name: Mr Nigel RichAmount purchased: 10,000 @ 311.00p Value: £31,100Tate & Lyle (TATE) Director name: Ms Anne MintoAmount purchased: 3,600 @ 834.25p Value: £30,033Panther Securities (PNS) Director name: Mr Brian GalanAmount purchased: 9,263 @ 297.50p Value: £27,557Blackrock Frontiers Investment Trust C Shs (BRFC) Director name: Miss Lynn RuddickAmount purchased: 25,000 @ 100.00p Value: £25,000Blackrock Frontiers Investment Trust C Shs (BRFC) Director name: Mr John MurrayAmount purchased: 25,000 @ 100.00p Value: £25,000Taylor Wimpey (TW.) Director name: Baroness Margaret FordAmount purchased: 15,000 @ 107.00p Value: £16,050Panther Securities (PNS) Director name: Mr Simon PetersAmount purchased: 5,056 @ 297.50p Value: £15,042Top Director SellsDiageo (DGE) Director name: Mr Paul S WalshAmount sold: 190,000 @ 2,070.00p Value: £3,933,000Lok'n Store Group (LOK) Director name: Mr Ray DaviesAmount sold: 23,530 @ 136.00p Value: £32,001BC