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Financials

Hexagon CEO sold 300,000 shares, more than half his stake

STOCKHOLM, Dec 16 (Reuters) - Swedish industrial technology group Hexagon’s CEO Ola Rollen has sold 300,000 shares in the firm, slightly more than half his stake, the company said in a statement after market close in Stockholm on Friday.

With Rollen as CEO since 2000, Hexagon has transformed from a sprawling conglomerate spanning from industrial rubber to canned foods valued at a few billion crowns, into a 200 billion crown measurement and positioning technology power.

“Due to private financial reasons, I have decided to sell a portion of my holding in Hexagon. I remain committed with continued strong confidence in Hexagon’s future,” Rollen said in the statement.

“We have many exciting opportunities ahead of us and I look forward to leading and developing Hexagon towards our strategic objectives.”

After the sale Rollen owns 286,900 Hexagon shares, worth around 165 million Swedish crowns ($17.14 million).

Rollen also sold shares in the firm in 2015 and in 2018.

Hexagon’s stock is up 41% this year and on Friday closed at a record 575 Swedish crowns.

$1 = 9.6261 Swedish crowns Reporting by Johannes Hellstrom, editing by Terje Solsvik

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