Frank Meysman has purchased shares in troubled travel company Thomas Cook, the firm he is soon to take charge of.
The Belgium national bought 100,000 shares at 39.09p each for a total of £39,090.
Meysman, 59, was recently announced as the firm's new chairman, and will take over from Michael Beckett when he retires at the end of the year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The businessman has most recently occupied the role of executive vice-president of food group Sara Lee. He has also held executive positions at numerous global brand companies, such as household products group Procter & Gamble, and has been a non-executive director, including chairman, of a number of public and private international companies.
When his new role was announced, Meysman said: "The group currently faces a number of significant challenges, but in the medium to longer-term we will be well positioned to build shareholder value on the back of premium brands and a fine heritage in the UK as well as internationally."
Thomas Cook, which has seen its share price fall 77.99% in the past year, recently binned its dividend after reporting that September had been a more challenging month than July and August.
Meysman's purchase marks his confidence in the firm, which has issued three profit warnings this year.
NR
Top Director Buys
Avanti Communications Group (AVN)
Director name: Mr David J Bestwick
Amount purchased: 20,000 @ 275.00p
Value: £55,000
Avanti Communications Group (AVN)
Director name: Mr David J Williams
Amount purchased: 18,360 @ 269.30p
Value: £49,443
Thomas Cook Group (TCG)
Director name: Mr Frank Meysman
Amount purchased: 100,000 @ 39.09p
Value: £39,090
Silence Therapeutics (SLN)
Director name: Mr Thomas Christly
Amount purchased: 1,662,162 @ 1.80p
Value: £29,919
Avanti Communications Group (AVN)
Director name: Mr F E John G Brackenbury
Amount purchased: 10,000 @ 267.12p
Value: £26,712
Hiscox Ltd. (HSX)
Director name: Ms Andrea Rosen
Amount purchased: 5,826 @ 366.56p
Value: £21,356
Silence Therapeutics (SLN)
Director name: Mr Max Herrmann
Amount purchased: 1,114,864 @ 1.80p
Value: £20,068
Hiscox Ltd. (HSX)
Director name: Mr Ernst Jansen
Amount purchased: 4,891 @ 366.56p
Value: £17,928
Mission Marketing Group (TMMG)
Director name: Mr Stephen Boyd
Amount purchased: 70,000 @ 17.00p
Value: £11,900
Personal Assets Trust (PNL)
Director name: Mr Stuart Paul
Amount purchased: 30 @ 33,680.00p
Value: £10,104
NR
