As always, it’s a very bad look: an executive director cashing in a big chunk of stock in the listed company they helm. And there’s plenty of precedent already in recent months, after Brambles’ Tom Gorman, Sirtex Medical’s Gilman Wong, Aristocrat’s Trevor Croker and Ramsay Health’s Chris Rex and Bruce Soden filled their skyrockets to the brim, all but Croker on the way out the door (Wong not of his own volition). Bellamy’s, Estia Health and Vocus Communications are all in the same basket. Have I mentioned any companies shooting the lights out? Er, no.
And on Monday, Caltex Australia advised the market that its CEO Julian Segal had dumped 57,200 units on Friday at $30.16 a pop, trousering $1.73 million. Having lost its bid for Woolworths’ petrol stations to rival BP, Segal’s trading will hardly fill the bourse’s tank with confidence.
Extracted from AFR.