Woodside Petroleum shares retreated after the disclosure that its chief executive Don Voelte had sold almost a third of his holding.
In early trading, Woodside shares were as much as 27 cents before turning lower, dropping 16 cents, or 0.4 per cent, to $44.03.
In a disclosure to the ASX late yesterday, the oil and gas producer said Mr Volte had disposed of 36,677 Woodside shares at $44.31 each, reaping more than $1.6 million.
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The sale left him with 96,018 ordinary shares and 968 shares held indirectly.
BusinessDay
