Former Diageo CEO sells another big stake

7th Aug 2013 16:08

Paul Walsh, the former Chief Executive Officer (CEO) of Diageo who now serves on the board as an advisor, sold over two million pounds-worth of shares in the beverages company on Wednesday.dWalsh, who was succeeded by new frontman Ivan Menezes at the start of July, exercised options over 100,000 shares in the Guinness maker and subsequently sold 95,000 of them at a price of 2,140p each, raising a total of £2.03m.The 5,000 left over raised his holding to 784,660 shares.The week before, Walsh made £3.93m after exercising and selling share options. 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 SellsDiageo (DGE) Director name: Mr Paul S WalshAmount sold: 95,000 @ 2,140.00p Value: £2,033,000Halma (HLMA) Director name: Mr Andrew WilliamsAmount sold: 176,470 @ 561.78p Value: £991,373GKN (GKN) Director name: Mr Marcus BrysonAmount sold: 225,103 @ 355.00p Value: £799,116Halma (HLMA) Director name: Mr Kevin J ThompsonAmount sold: 105,665 @ 561.78p Value: £593,605Halma (HLMA) Director name: Mr Adam MeyersAmount sold: 77,947 @ 561.78p Value: £437,891Halma (HLMA) Director name: Mr Neil QuinnAmount sold: 66,707 @ 561.78p Value: £374,747Domino Printing Sciences (DNO) Director name: Mr Garry HavensAmount sold: 6,000 @ 646.00p Value: £38,760Cropper (James) (CRPR) Director name: Mr John DenmanAmount sold: 10,000 @ 282.50p Value: £28,250BC