Outgoing Irish Permanent chief executive, Mr Billy Kane, has sold most of his shareholding in the company realising £1 million (€1.27 million). Mr Kane (45), who recently announced he would leave the company next year, still holds 23,150 Irish Life & Permanent shares and options over a further 41,560 shares. The shares he sold were his own and were not secured through options. A spokesman said the share transaction had been expected ahead of his departure.