Jochen Breckner (L) Matthias Becker. Click for more.
Porsche AG (P911.DE) – with an eye aimed at the capital markets – said today that it is making a long-planned change to its Executive Board. Effective tomorrow 26 February 2025, Jochen Breckner (47) will take over responsibility for Finance and IT, with Matthias Becker (54) becoming responsible for Sales and Marketing. They succeed Lutz Meschke (58) and Detlev von Platen (61), who are leaving the company by mutual agreement. Breckner previously headed Porsche’s General Secretariat and Corporate Development. Becker was most recently Head of the Overseas and Emerging Markets region at Porsche AG and has successfully developed it into one of Porsche’s strong sales pillars.
“In appointing Jochen Breckner and Matthias Becker, we are very pleased to have found two excellent successors from within the ranks of Porsche. Together with them, we will continue to write the unique success story of our company,” said Dr. Wolfgang Porsche, Chairman of the Supervisory Board. “We would like to thank Lutz Meschke for his great commitment and his many years of successful work for Porsche AG. He has decisively shaped the positive development of this company with a high level of commitment and strategic foresight and he resolutely drove the IPO. I would also like to thank Detlev von Platen on behalf of the Supervisory Board. His many years of strong commitment have shaped Porsche. His commitment to the development of global markets is particularly noteworthy,” said Dr. Porsche. Continue reading
GM Board OK’s New Share Repurchases, Higher Dividends
A solid foundation. Click for more.
General Motors (NYSE: GM) said today that its Board of Directors has approved a $0.03 per share increase in the quarterly common stock dividend rate beginning with the next planned dividend, as well as a new $6 billion share repurchase authorization.* The company has entered into a hastened share repurchase (ASR) program to execute $2 billion of the share repurchase authorization.
“The GM team’s execution continues to be strong across all three pillars of our capital allocation strategy, which are to reinvest in the business for profitable growth, maintain a strong investment grade balance sheet, and return capital to our shareholders,” said Mary Barra, chair and CEO. Continue reading →