£11m for car auctions boss

One of the UK’s highest-paid female executives has sold £10.7m worth of shares.

We buy any Car owner bCa marketplace’s chief executive avril Palmer-baunack, who was slammed by City experts earlier this year for her £29m bonus, sold more than 5m shares to investment funds at an average price of 212.5p each.

The car auction company clarified that its 54-year-old boss had ‘no current intention’ to sell any more shares and was ‘fully committed to her future leadership’ of bCa. she still owns around 8.8m shares, or 1.1pc of the company, a stake worth £18.8m.

shareholder advisory groups claimed earlier this year that her bonus was ‘excessive’, and 23pc of shareholders voted against the pay.

The high-flyer, who has a son and daughter and is married to a German executive at Volkswagen, has previously defended her pay, saying: ‘We all want to earn money for our family.’

Palmer-baunack ( pictured) has also faced sexism from peers, as one former male colleague wrote in a leaked email that he might have been more successful if he had ‘a pair of t*** like avril’. bCa did not identify which firms had bought the shares. however Los angeles- based Capital Group has been building its stake and yesterday said it owns 10.3pc of the company which has a market, value of £1.7bn.