Cettire defends CEO’s $127m share sale ahead of stock slump

Cettire chairman Bob East says the sale of $127 million in shares by the luxury online retailer’s chief executive, Dean Mintz, was unrelated to questions raised about the company’s customs duties payments.

Mr East, the former chairman of Tourism Australia, said Mr Mintz had sold the shares during an open trading window, and not because The Australian Financial Review had asked the company to explain whether it had failed to pay customs duties on $1300 worth of goods on March 1.