Rolls-Royce America boss pockets £850,000

19th Oct 2011 14:35

James Guyette, president and chief executive of Rolls-Royce's North American operations, has pocketed about £850,000 from the sale of a chink of his holding in the aeroplane engine maker.He sold 122,560 shares at 696p a time, but still has 274,796.The sale of the shares comes in the midst of a strong run for Rolls-Royce shares, following an announcement on 13 October that it will dispose of its interest in International Aero Engines (IAE) - a joint venture between Pratt & Whitney (a United Technologies Corp company), MTU Aero Engines (MTU) and Japanese Aero Engine Corporation (JAEC) - to Pratt & Whitney for $1.5bn, in addition to further payments for every hour IAE engines are flown over the next 15 years. Furthermore, the company unveiled a new partnership with Pratt & Whitney to develop engines to power future mid-size aircraft which hold between 120 and 230 passengers. Guyette works in Rolls-Royce's North American headquarters in Chantilly, Virginia. He has been with the company since 1998. He is also a director of the discount website priceline.com.Top Director BuysAllied Gold Mining (ALD) Director name: Mr Stephen KellyAmount purchased: 79,166 @ 126.00p Value: £99,749London Finance & Investment Group (LFI) Director name: Mr D C MarshallAmount purchased: 280,000 @ 18.99p Value: £53,172Quindell Portfolio (QPP) Director name: Mr Robert TerryAmount purchased: 2,000,000 @ 2.50p Value: £50,000Avingtrans (AVG) Director name: Mr Roger McDowellAmount purchased: 90,000 @ 47.75p Value: £42,975Quindell Portfolio (QPP) Director name: Mr Laurence MoorseAmount purchased: 500,000 @ 2.50p Value: £12,500Top Director SellsRolls-Royce Group (RR.) Director name: Mr James M GuyetteAmount sold: 122,560 @ 696.00p Value: £853,018