Ackery, Flogs $990,000 Worth Of Shares As Harvey Norman Boss Becomes A No Show
David Ackery an Executive Director at Harvey Norman and the man responsible for CE and Electrical sales at the mass retailer has netted close to $1M dollars from the sale of shares in Harvey Norman.
Ackery, recently sold 213,633 shares at $4.50 and 6,367 shares at $4.51 netting him $990,003.67. He still owns 647,000 shares in the Company. The sale was made ahead of Harvey Norman releasing their latest financial numbers.
While Ackery was flogging shares in the Company Harvey Norman boss Gerry Harvey was ducking for cover with revelations that he will not be taking part in the traditional half yearly results call.
This follows his slanging match with investors at the retailer’s AGM in November when he had an open slanging match with attendees who accused the mass retailer of circulating “flawed” information about its accounts and its dealings with franchisees?
Like JB Hi Fi, Harvey Norman is expected to deliver a strong result later today.
The AFR said that his actions could be ‘an attempt to avoid a repeat of the fireworks to which the world was treated during the AGM in November when Gerry went postal accusing short sellers of mounting a conspiracy against the retailer’.
No siirree, according to Gerry. It was a decision based solely on experience and a desire to not allow “the nitpickers” to rain on his parade.
“I was inspired by Warren Buffett, who warned in his investors letter to focus on the growth of the forest as a whole and not just on a single tree,” said Harvey – coming over all Zen-like – before adding (in more characteristic straight talk): “I just got sick of people picking a fight for the sake of picking a fight.”
The AFR concluded See? He’s a lover, not a fighter.