It hasn't been the best month for the Wesfarmers Ltd (ASX: WES) share price as Managing Director Richard Goyder continues to sell his stock in the company.
Mr Goyder, who has taken home about $100 million dollars during his time with Wesfarmers, does not seem to be one who is short on funds.
And his bank balance has taken another boost this month as he cashed out around $3 million in Wesfarmers stock in two separate transactions, and as the shares sustained a slight downfall.
Wesfarmers shares started September at $42.44 and closed on Wednesday at $41.04.
Although the Australian conglomerate, which own Coles, Bunnings, Officeworks, and a range of mining interests, sustained only a slight drop in its stock price, when those close to a business, especially directors, begin selling significant amounts of shares other investors feel a tad nervous.
It's not the first time Mr Goyder has sold significant stakes in Wesfarmers.
In February 2017 Mr Goyder sold more than $1.5 million worth of Wesfarmers stock.
And the year before he sold more than $6 million in Wesfarmers shares.
Mr Goyder, who has been the managing director of the company for more than 12 years and overseen the company's value increase from $15 billion to $50 billion, is due to step down at the end of 2017.
He is expected to be replaced by the Group's Deputy Chief Executive Officer Rob Scott, who has been with Wesfarmers since 1993.
With analysts cutting their profit forecasts for Wesfarmers, partly based on concerns that Coles may face tougher competition, perhaps Mr Goyder is getting out at the right time, in more ways than one.
But things will be clearer next month.
Wesfarmers is due to announce its 2018 first quarter retail sales on October 25, 2017.
