9th May 2016 12:32
LONDON (Alliance News) - BT Group PLC Monday said Finance Director Tony Chanmugam sold GBP623,000 worth of shares as he prepares to step down from the role.
Chanmugam sold 140,000 shares at a price of 445 pence per share on Friday.
Following the sale, Chanmugam has a personal holding of 295,268 shares.
In March, BT named Simon Lowth as its new finance director, with plans for him to join the company on July 4.
Lowth, who was the finance director at gas producer BG Group prior to its takeover by Royal Dutch Shell, will take over from Chanmugam, who announced his plan to step down in February.
Chanmugam will remain in place for a handover period, after which he will move to focus on integrating mobile network EE into BT, following its acquisition of the business last year.
The stock was up 0.7% at 446.25p Monday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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