Porsche Automobil Holding SE (PAH3), operating as Porsche SE, has announced a significant after-tax loss of €20 billion for fiscal year 2024. This substantial downturn is primarily attributed to impairments in its investments in Volkswagen (VOW) and Porsche AG (P911), highlighting the financial headwinds faced by the German automotive giant.
Despite the massive loss projection, Porsche SE’s board maintains expectations for a dividend payout for 2024. The full details of the company’s financial performance will be disclosed in its upcoming annual report, set for release on March 26.
Liva Insurance CEO Kamran Mazhar Resigns
In another corporate development, Liva Insurance Co. (SASE:8280) announced that its Chief Executive Officer, Kamran Mazhar, has submitted his resignation due to personal reasons. The company confirmed the news in a Sunday release, stating that Mazhar will officially step down from his position on March 21.
Liva Insurance has not yet announced a successor, and the transition plan remains to be disclosed. Mazhar’s departure marks a key leadership change for the Saudi Arabia-listed insurance provider.
