German utility RWE AG (RWE.XE) said Tuesday its Chief Executive Juergen Grossmann bought shares in the company worth around EUR2 million.
Grossmann bought 25,000 RWE shares at a price of EUR80.92 per share Monday, the company said.
This is the third time Grossmann bought shares in RWE since he took charge of Germany's second-largest utility by market value.
Last January and November, Grossmann bought shares in RWE each time worth around EUR1.7 million.
The latest transaction comes only days after the Essen-based company Friday reported below-expectations 2007 results and presented a strategy which many analyst said was disappointing. In the last six days, RWE shares have lost around 6% in value. At 1505 GMT, RWE shares traded EUR0.58, or 0.7%, lower at EUR80 in a broadly firmer market.