New Sainsbury's chairman David Tyler wasted no time in opening his account, snapping up £167,000 of shares in the supermarket chain today.
The former finance boss of GUS, who joins the board at the start of next month and becomes chairman on 1 November, paid 334.3p each for 50,000 shares.
Tyler takes over from Sir Philip Hampton who is leaving the food retailer following his appointment as chairman of government-owned lender, Royal Bank of Scotland.
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 56-year-old, also chairman of IT contracting firm Logica, will be paid £450,000 a year for working two to three days a week.
In a former life he was finance director at auctioneer Christie's.
Top Director Buys
Value: £28,369
Value: £22,369
Top Director Sells
Value: £1,065,000
Value: £798,750
Value: $310,010
Value: $310,010
Value: $310,010
Value: $310,010
Value: £279,937
Value: £32,175
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
