Departing chairman Kevin Beeston has sold nearly all his remaining shares in outsourcing group Serco.
Alastair Lyons will take up the chairmanship of the company after the Annual General Meeting on 11 May. Lyons has been non-executive chairman of Admiral Group since 2000.
Beeston's departure marks his 25th anniversary at Serco. He was executive chairman for more than six years before switching to non-executive chairman in September 2007. He was previously finance director and then chief executive.
Try 6 free issues of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
Start your trial
Sign up for MoneyWeek’s free twice-daily newsletter.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
The sale of 293,900 shares at 594p a share, raises £1.75m and leaves Beeston with 25 shares in Serco.
Latest Videos FromMoneyWeek
Earlier this month Beeston raised £1.6m from the sale of nil cost options, while in October he generated just over £410,000 from share sales.
On 24 September, Beeston exercised options over 776,837 shares at a cost of £1.58m. He immediately sold 506,112 shares at 503.32p each, raising £2.55m.
Top Director Buys
Kirkland Lake Gold (KGI) Director name: Mr George A MiltonAmount purchased: 100,000 @ 504.14p Value: £504,140
Johnston Press (JPR) Director name: Mr John FryAmount purchased: 423,555 @ 28.98p Value: £122,746
Brit Insurance Holdings NV (BRE) Director name: Dr Cornelis A C M (Cees) SchrauwersAmount purchased: 14,000 @ 758.00p Value: £106,120
Johnston Press (JPR) Director name: Mr Stuart R PatersonAmount purchased: 294,654 @ 28.98p Value: £85,391
Johnston Press (JPR) Director name: Mr Danny CammiadeAmount purchased: 251,280 @ 28.98p Value: £72,821
Leyshon Resources (LRL) Director name: Mr Paul Campbell AtherleyAmount purchased: 530,000 @ 10.50p Value: £55,650
Plantic Technologies (PLNT) Director name: Mr Ian WightwickAmount purchased: 200,000 @ 9.20p Value: £18,400
Plantic Technologies (PLNT) Director name: Mr Brendan MorrisAmount purchased: 200,000 @ 9.20p Value: £18,400
Johnston Press (JPR) Director name: Mr Ian M RussellAmount purchased: 55,513 @ 28.98p Value: £16,088
Aegis Group (AGS) Director name: Mr Simon T LaffinAmount purchased: 10,000 @ 124.70p Value: £12,470
Top Director Sells
RSA Insurance Group (RSA) Director name: Mr Andrew K HasteAmount sold: 5,728,875 @ 125.71p Value: £7,201,769
Serco Group (SRP) Director name: Mr Kevin S BeestonAmount sold: 293,900 @ 594.00p Value: £1,745,766
BP (BP.) Director name: Dr Dr Anthony (Tony) B HaywardAmount sold: 223,288 @ 623.20p Value: £1,391,531
Reckitt Benckiser Group (RB.) Director name: Mr Colin R DayAmount sold: 32,850 @ 3,498.38p Value: £1,149,218
Rio Tinto (RIO) Director name: Mr Guy R ElliottAmount sold: 30,000 @ 3,777.00p Value: £1,133,100
Shire Plc (SHP) Director name: Mr Angus RussellAmount sold: 41,239 @ 1,438.06p Value: £593,042
Rathbone Brothers (RAT) Director name: Mr G Mark PowellAmount sold: 50,000 @ 848.00p Value: £424,000
Shire Plc (SHP) Director name: Mr Angus RussellAmount sold: 23,371 @ 1,440.00p Value: £336,542
Anglo American (AAL) Director name: Mr Rene MedoriAmount sold: 7,615 @ 2,706.00p Value: £206,062
Beazley Group (BEZ) Director name: Mr Andrew BeazleyAmount sold: 146,368 @ 107.89p Value: £157,916
