Terry Smart the Group CEO of JB Hi-Fi Limited, has sold down 6,500 shares in the big CE and appliance retailer worth $556,530.

He still owns a significant level of shares in the business that has soared during his time running the mass market retailer.

The sale reduces his indirect holdings in a Company whose share value is sitting at $85.62 today, after climbing 65% during the past six months.

Nick Wells left seen with JB Hi Fi CEO Terry Smart

Recently Smart announced the appointment of former chief financial officer Nick Wells to take on the role of chief operating officer at the business which recently acquired E&S trading.

Some analysts claim that Wells is future CEO potential.

Back in August Smart netted $379,670 after selling 5,000 shares in the retailer.

Also in August Nick Wells sold 10,048 shares netting $761,283.

Smart currently hold a significant number of shares through various trusts, reflecting ongoing confidence in the company’s prospects.