Reported about 12 hours ago
Porsche's supervisory board has begun discussions to prematurely end the contracts of CFO Lutz Meschke and sales chief Detlev von Platen due to declining earnings and weak sales, particularly in China. This move follows criticism of both executives regarding the company's performance and its falling share price, which is now 30% lower than its IPO in September 2022. Porsche has acknowledged the need to cut costs amid increasing competition and a slower transition to electric vehicles.
Source: YAHOO