Carlsberg A/S’s chief executive officer bought shares for about $1.6 million just a few days into his new job, as he used to do at his previous CEO position where his frequent purchases often boosted the stock price.
(Bloomberg) — Carlsberg A/S’s chief executive officer bought shares for about $1.6 million just a few days into his new job, as he used to do at his previous CEO position where his frequent purchases often boosted the stock price.
Jacob Aarup-Andersen, who took the top job at the Danish brewery on Friday, purchased 11,000 shares in Tuesday’s trading on the Copenhagen stock exchange, according to a filing.
Aarup-Andersen often amassed shares in ISS A/S during his 2020-2023 CEO tenure at the cleaning giant. He even acquired 35,000 ISS shares on Aug. 18, a few weeks before his departure, bringing his ISS stake to about $4.2 million, and giving a lift to the stock price as the market saw it as a vote of confidence.
At Carlsberg, Aarup-Andersen’s main job will be to find new areas of growth after the loss of the Russian business. He gained a reputation as a turnaround expert at ISS, and has past employment history from Danske Bank A/S.
When Aarup-Andersen announced his departure from ISS back in March, the stock fell while Carlsberg shares rallied.
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