August 9, 2018 / 6:37 AM / 10 months ago

Hexagon CEO Ola Rollen sells half his stake in the company

STOCKHOLM, Aug 9 (Reuters) - The CEO of Swedish industrial technology group Hexagon said on Thursday he had sold half his stake in the company but that he still looked forward to leading the company and had no plans to sell more shares.

Hexagon said in the statement Chief Executive Ola Rollen had sold around 318 million crowns ($35.5 million) worth of shares between Aug.6 and Aug. 8.

Rollen said the sale was due to private financial reasons.

“I remain committed with continued strong confidence in Hexagon’s future. We have many exciting opportunities ahead of us and I look forward to leading and developing Hexagon towards our strategic objectives,” he said in the statement.

Shares in Hexagon, a rival to Autodesk and Dassault Systemes and whose sensors and software are used for measurement and quality inspection in manufacturing and engineering plant design, hit all time high last week on second-quarter earnings.

With Rollen at the helm since 2000, Hexagon has grown rapidly through acquisitions and organically into a $20 billion company.

The group had however faced insider trading charges against Rollen over a 2015 purchase of shares in a company unrelated to Hexagon. Rollen was acquitted in January.

Hexagon said in May Rollen would remain as CEO even though he faces an appeal against his acquittal.

$1 = 8.9523 Swedish crowns Reporting by Anna Ringstrom; editing by David Evans

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