JB Hi Fi Director Flogs Shares

JB Hi Fi board member Richard Uechtritz appears to have dipped out on a rise in the retailers share value when he sold a batch of the retailers shares recently.

As shares in the consumer electronics retailer soared following their recent profit and 4.1% lift in sales it was revealed that Uechtritz had offloaded 6700 of his remaining 11,516 shares for $205,969.37 on August 12, at 4pm on the day of the retailer’s annual result.

The trading window was due to open the following day, which was when Uechtritz intended his trade to be carried out, only for it to be “inadvertently executed”.

The share price of $32.72 is 63.95% above the value of JB Hi Fi shares when Uechtritz handed the CEO role over to Terry Smart back in 2010 when the Company was run from small offices in Brighton.

He sold over a million JB Hi-Fi shares between 2009 and 2010, at prices ranging between $18 and $19.

About Post Author

David Richards

David Richards has been writing about technology for more than 30 years. A former Fleet Street journalist, he wrote the Award Winning Series on the Federated Ships Painters + Dockers Union for the Bulletin that led to a Royal Commission. He is also a Logie Winner for Outstanding Contribution To TV Journalism with a story called The Werribee Affair. In 1997, he built the largest Australian technology media company and prior to that the third largest PR company that became the foundation company for Ogilvy PR. Today he writes about technology and the impact on both business and consumers.