Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Chairman tells his board he sold 150,000 shares of his stock to buy himself yacht

Linette LopezMar 16, 2015, 20:16 IST

If nothing else, maybe you've just got to appreciate this Australian Chairman's honesty?

Marcus Blackmore, Chairman of Blackmores, a leading Australian vitamin and natural health company, told his board in a letter that he sold 150,000 shares of the company to "reduce his personal debt" and buy a yacht (h/t Bloomberg's Matt Levine).

The letter was dated March 13th, on March 12th Blackmores' stock looked like this...

NOW WATCH: How The Secrets Of The Samurai Can Help You Achieve Laser-Focus

Please enable Javascript to watch this video