Andrew Higginson, who is chief executive of retailing services at Tesco, has raised £2.1m from selling 500,000 shares.
Higginson also holds the position of group strategy director of the supermarkets group. He was formerly finance director of Tesco and he held that position between November 1997 and January 2009.
Higginson is focused on growing the financial services side of the business and he is chairman of Tesco Personal Finance. He also has responsibility for the online and telecoms activities.
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 500,000 shares were sold for 426.6p each and this cuts his stake in Tesco to 1.26m shares.
In January, Tesco reported a 7% increase in sales in the six weeks to 9 January 2010. Online sales rose by one-fifth.
Tesco will report its 2009-10 results on 20 April.
Top Director Buys
BG Group (BG.) Director name: Mr Mark SeligmanAmount purchased: 5,000 @ 1,168.67p Value: £58,434
Top Director Sells
Tesco (TSCO) Director name: Mr Andrew HigginsonAmount sold: 500,000 @ 426.60p Value: £2,133,000
Bank Of America (BAC) Director name: Mr Brian T MoynihanAmount sold: 24,614 @ $14.45 Value: $355,672
-
New Chase bonus deal takes savings rate to 4.75% – is it worth it?Chase’s latest savings deal propels it into first place in the best-buy tables, but there are some pitfalls to look out for
-
Review: Trasierra – a yoga retreat in the Spanish hillsFlora Connell joins a yoga retreat at Trasierra, in the Sierra Morena mountains north of Seville
