Diageo CEO continues to reduce stake

18th Feb 2013 16:31

The Chief Executive Officer of Diageo, the FTSE 100 drinks giant, has continued to reduce his stake in the company, this time selling 75,000 shares. Paul Walsh, who was appointed to the role of CEO in 2000, now holds 654,614 shares in the group. The shares were traded in at 1,935.00p a time, earning him £1.45m before tax. The sale comes just a few weeks after Diageo unveiled its results for the final six months of 2012. The company, whose brands include Guinness, Smirnoff and Johnnie, reported a 9.0% organic operating profit growth for the half year ended December 31st. Earnings per share for pre-exceptional items rose 9.0% to 60.9p per share. Organic net sales growth climbed 5.0% with 1.0% organic volume growth. The group reported a 110 basis points of organic operating margin expansion. Walsh said the results were driven by the strong performance of the company's alcoholic spirits in the US.Top Director BuysNorthern Investors Co (NRI) Director name: Mr John C BarnsleyAmount purchased: 30,000 @ 280.00p Value: £84,000President Energy (PPC) Director name: Mr Peter M LevineAmount purchased: 125,000 @ 23.00p Value: £28,750Top Director SellsDiageo (DGE) Director name: Mr Paul WalshAmount sold: 75,000 @ 1,935.00p Value: £1,451,250Randall & Quilter Investment Holdings (RQIH) Director name: Mr Alan QuilterAmount sold: 300,000 @ 122.00p Value: £366,000