DroneShield and Electro Optic Systems have provided recent, bruising reminders that investors rarely take kindly to a chief executive selling shares.
Shareholders want to see the boss has skin in the game, believes in the company’s future share price and is sticking around for the long haul.
So Xero chief executive Sukhinder Singh Cassidy entered hazardous territory on Monday when the accounting software platform revealed she had sold her entire direct holding.
“It’s not a CEO that we would back,” Ron Shamgar, head of Australian equities at TAMIM Asset Management, told Capital Brief.
