Burberry CEO Christopher Bailey has sold 68,667 of his shares in the company for a very eye-watering £5.2 million.
We don’t know why he’s decided to let go of them, especially as he got a huge pay rise since taking over from Angela Ahrendts as CEO, but he still owns an impressive 303,110 shares which are reportedly worth £4.4 million.
“Christopher Bailey has exercised the option on a number of shares that he was awarded during his time as chief creative officer,” a spokesperson for the company said. “As part of this process the number of Burberry shares he actually owns has increased. There are only certain times of the year when board members of a public company can sell shares which is why he is doing this now.”
We wonder what he’s going to do with the extra £5 million he now has in the bank…