Ascential boss Duncan Painter makes £840k after shares rally
Ascential chief executive Duncan Painter sold £840,000 worth of shares after a deal to split the company sent shares soaring.
Painter, who has led the media and events group since 2011, sold 300,000 shares at £2.80 each.
He earned £1m last year and has taken home £7.6m since the company floated in 2016.
Looking ahead: Ascential will focus on running events such as the Cannes Lions advertising festival
The sale comes after Painter agreed to sell two of Ascential's businesses for £1.4 billion.
Before it was announced, shares were trading at £2.13.
Under the deal, Ascential's consumer research unit would be sold to private equity firm Apax Partners for £700m and an online commerce division would go to US media group Omnicom.
The remaining business would focus on ongoing events such as the Cannes Lions advertising festival and Money 20/20, a global financial technology gathering.
If shareholders vote for the split, it will likely be completed early next year.
Painter, 53, is scheduled to join Omnicom.