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World Fuel Services Corporation (WFS) has revealed that its Chairman and chief executive officer, Paul H. Stebbins [pictured], has sold 50,000 company shares this week after selling a similar amount of shares towards the end of last month.

Between August 4-5, Stebbins sold 2,880 shares at a weighted average sale price of $44.9113 and 47,120 shares at an average price of $44.9597.

Last week, the WFS CEO also sold a total of 50,000 shares between July 28-30 with 20,500 shares selling at a weighted average sale price of $42.9204 and 29,500 shares at $43.4855.

Stebbins entered into a pre-arranged, non-discretionary stock trading plan towards the end of last year.

Sales under this plan are due to cover approximately 20% of Mr. Stebbins' holdings and are being made for diversification and tax planning purposes.

"Transactions are expected to occur at predetermined times from January 5, 2009 through December 31, 2009 and will be publicly disclosed through Form 4 filings with the Securities and Exchange Commission," the company said in a statement in December.

The stock trading plan was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and World Fuel Services' policies regarding stock transactions.

Rule 10b5-1 permits individuals who are not in possession of material, non-public information at the time the plan is adopted to establish pre-arranged plans to buy or sell company stock. These plans allow individuals to achieve prudent and gradual asset diversification over time.