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Wesfarmers CEO Sells $9.1M Stake

Wesfarmers CEO Rob Scott has offloaded $9.1 million of shares in the Perth conglomerate, in order to meet his tax obligations.

According to an ASX notice, the sale of 174,383 shares at approximately $51.80 each occurred on Tuesday, April 11.

Scott and his wife still hold 1.1 million of shares in Wesfarmers.

This comes in the same week that Wesfarmers exited its stake in Coles after 16 years, selling off its final $688 million worth of shares, after uploading various parcels during the pandemic worth $2.2 billion.

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