Rolls-Royce America boss pockets £850,000

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.

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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.

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Rolls-Royce Group (RR.)

Director name: Mr James M Guyette

Amount sold: 122,560 @ 696.00p

Value: £853,018