Sir Terry Leahy has reduced his stake in Tesco, as the supermarket continues to prepare for life after its long-serving chief executive.
The retailer’s boss has sold shares worth £3.3m, according to The Times. Despite the sale, he still holds stock worth almost £37m.
Shares in the UK’s largest supermarket have risen by 14% in the past three months.
News of the sale comes just months before Sir Terry hands over the reins to Philip Clarke. He will leave the business in March after 14 years at the helm.
Editor's Comment: Fresh & Easy could be Sir Terry's farewell gift (9 October 2010)
Second Opinion: Sir Terry Leahy’s story of success (9 October 2010)
Tesco relies on overseas growth as UK sales stall (5 October 2010)