The chairman and chief executive of Robert Wiseman Dairies have both reduced their stakes in the UK dairy firm after offloading shares in the company.
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Chief executive Robert Wiseman and chairman Alan Wiseman sold 1.5m shares in the company, a move that earned both executives around GBP7.8m (US$16m).
Robert Wiseman now owns 17.24% of the company; Alan Wiseman holds 14.99% of the business.
Last week, the UK’s competition watchdog fined six companies, including Robert Wiseman Dairies, for fixing the price of milk, butter and cheese.
Robert Wiseman Dairies was fined GBP6.1m for its role in the affair and said it had backed moves by retailers to raise prices to boost returns for farmers.
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By GlobalDataChairman Alan Wiseman said the plan was “to provide support for farmers at a time of crisis”. He added: “Every penny of additional revenues paid to Wiseman was passed directly to our suppliers.”
