Debenhams finance director Chris Woodhouse has sold 8.6 million shares in the department store group for £7.2m.
Woodhouse retains 3m shares in Debenhams representing a 0.24% stake.
A Debenhams spokeswoman said that Woodhouse sold the shares for “personal reasons”. The disposal followed full year results last week, creating a window of opportunity to sale after the end of Debenhams closed period.
A source close to the retailer said Woodhouse’s share sale did not mean that he was gearing up to leave the company.
Yesterday Debenhams’ shareholder TPG, the American private equity group which took the department store private, sold its remaining shares in the retailer, for a £500m profit.