Share price fell after inquiry heard Kingspan ‘pushed hazardous products into the marketplace’
Three directors of Kingspan, the company that made combustible insulation used on Grenfell Tower, cashed in more than £6m in share options before allegations against the business were aired at the public inquiry into the disaster.
Gene Murtagh, the chief executive of the Dublin-based company that made the Kooltherm-K15 foam panels used on the council block where a fire killed 72 people in 2017, took the biggest share, making a £3.1m profit, followed by Gilbert McCarthy and Peter Wilson, two executive directors who made £1.8m and £1.6m respectively. The trades happened in September and October, before the inquiry started investigating the company’s role this month.
