A top boss at online beauty, wellness and software giant THG has sold more than £8m in shares which were held on his behalf by chief executive Matthew Moulding.
Steven Whitehead, who is the group's commercial director, made the move on Wednesday, according to new documents filed with the London Stock Exchange.
The deal came after THG's share price plunged by 20% to a record low on Monday, January 24.
READ MORE: THG - All you need to know about Matthew Moulding's beauty, wellbeing and software giant
Shares in THG were worth 121p by the end of Monday, having started the day at 148p.
Mr Whitehead has been THG's group commercial director since 2010 having previously been an investment manager at Barclays Private Equity.
Prior to that, he was assistant director at Altium Securities for six years.
THG recently announced that its revenue surged past the £2bn mark during 2021, while the group added it expects a further 25% increase in 2022.
THG reported a revenue of £2.178bn for the 12 months to December 31, 2021, up from the £1.613bn it posted in 2020.
Its beauty division's revenue increased from £751.6m to £1.116bn, nutrition went up from £562.3m to £659.5m, THG OnDemand rose from £101.3m to £128.1m while THG Ingenuity jumped from £137.3m to £194.3m.
During the fourth quarter, THG's group revenue rose from £559.8m to £711.7m, while increases were also reported for all divisions.
The group added its adjusted EBITDA margin for 2021 is set to be between 7.4% and 7.7%, compared to market expectations of c.7.9%, because of "adverse foreign currency movements".
