Persimmon Boss Cashes in on Shares Before Departure
persimmon boss cashes shares before departing

Although Dave Jenkinson is due to leave Persimmon at the end of the year, last week he sold £3.4 million worth of shares accounting for 129,307 although he still holds a further 603,983 shares in the company, reported to be worth around £15.7 million.


He also sold 50,000 shares back in July for a further £1.3 million and before that in June, 89,581 shares were offloaded for the sum of £2.2 million meaning that his has cashed around £7 million. 

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Jenkinson has been in charge of the company since 2018 after the scandal of the former boss’s £75 million bonus, and he took up the post on the same pay-grade and with no further bonus for 2019, although this was re-instated this year.

Persimmon recently revealed that pre-tax profits in the first half of the year had fallen by almost 43% and revenue had fallen by almost a third, which could be a reason that Jenkinson has decided to cash in on his shares, which were awarded to him under the company’s controversial bonus scheme.

The company did still generate £292.4 million of pre-tax profits in the first six months of the year to the end of June although this is down from £509.3 million for the same period last year.

Jenkinson’s replacement is the former National Express Chief Executive Dean Finch who currently has shares worth £15 million.

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