3rd Mar 2016 11:43
LONDON (Alliance News) - Poundland Group PLC Thursday said its incoming Chief Executive Officer Kevin O'Byrne bought around GBP574,782 in the discount retailer's shares on Wednesday, the day he was announced in the role.
O'Byrne bought 321,107 shares at an average price of 179 pence per share, which includes 6,888 shares acquired by his wife, Elaine O'Byrne.
The discount retailer on Wednesday said O'Byrne will begin his role as chief executive designate on April 4 and will then become CEO on July 1. He was previously a director at electronics retailer Dixons Retail PLC, now Dixons Carphone PLC, and at DIY retailer Kingfisher PLC, where he was CEO of B&Q UK and Ireland.
FTSE Russell also confirmed late on Wednesday that Poundland Group will be relegated from the FTSE 250. following completion of its quarterly review. The changes come into effect on March 21.
The stock was up 0.1% at 170.10p Thursday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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