8-K
filed July 29, 2024, 7:59 PM ET
ticker L
CIK 0000060086
leadership
confidence high
sentiment positive
materiality 0.80
Loews Q2 net income $369M ($1.67/shr); CEO James Tisch to retire, Ben Tisch to succeed
LOEWS CORP
- Q2 net income $369M ($1.67/shr) vs $360M ($1.58/shr) YoY; net income up 14% excluding prior-year hotel gain.
- CNA contributed $291M (+14% YoY) on higher investment income; Boardwalk $70M (+23%) on re-contracting at higher rates.
- Book value per share ex-AOCI rose to $85.42 from $81.92 at Dec 31, 2023.
- Repurchased 2.4M shares for $180M in Q2 and 0.2M for $14M in Q3 to date.
- James S. Tisch retires as President/CEO Dec 31, 2024; Ben Tisch elected CEO effective Jan 1, 2025.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 1.0
James S. Tisch changed role as Chairman of the Board at LOEWS CORP.
- Action
- retired as President and CEO, elected Chairman
- Role
- Chairman of the Board
Exact text from the filing
On July 26, 2024, James S. Tisch informed Loews Corporation (the “Corporation”) that he will retire from his positions as President and Chief Executive Officer and as a member of the Office of the President of the Corporation, effective December 31, 2024. He will continue to serve as a director of the Corporation and has been elected by the Board of Directors as Chairman of the Board, effective January 1, 2025.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Benjamin J. Tisch was elected as President and Chief Executive Officer at LOEWS CORP.
- Action
- elected
- Role
- President and Chief Executive Officer
Exact text from the filing
On July 26, 2024, the Board of Directors elected Benjamin J. Tisch as President and Chief Executive Officer of the Corporation, effective January 1, 2025.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Jonathan M. Tisch retired as Member of the Office of the President at LOEWS CORP.
- Action
- retired
- Role
- Member of the Office of the President
Exact text from the filing
On July 26, 2024, Jonathan M. Tisch also informed the Corporation that he will retire from his position as a member of the Office of the President of the Corporation, effective December 31, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Andrew H. Tisch retired as Director and Co-Chairman of the Board at LOEWS CORP.
- Action
- retired
- Role
- Director and Co-Chairman of the Board
Exact text from the filing
On July 26, 2024, each of Andrew H. Tisch and Jonathan M. Tisch informed the Corporation that they will retire from their positions as directors, including as Co-Chairmen of the Board of Directors, of the Corporation, effective December 31, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Alexander H. Tisch was elected as Director at LOEWS CORP.
- Action
- elected
- Role
- Director
Exact text from the filing
On July 26, 2024, the Board of Directors elected Alexander H. Tisch and Benjamin J. Tisch as directors of the Corporation and appointed them as members of the Executive Committee of the Board of Directors, in each case effective January 1, 2025.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Jonathan M. Tisch retired as Director and Co-Chairman of the Board at LOEWS CORP.
- Action
- retired
- Role
- Director and Co-Chairman of the Board
Exact text from the filing
On July 26, 2024, each of Andrew H. Tisch and Jonathan M. Tisch informed the Corporation that they will retire from their positions as directors, including as Co-Chairmen of the Board of Directors, of the Corporation, effective December 31, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Benjamin J. Tisch was elected as Director at LOEWS CORP.
- Action
- elected
- Role
- Director
Exact text from the filing
On July 26, 2024, the Board of Directors elected Alexander H. Tisch and Benjamin J. Tisch as directors of the Corporation and appointed them as members of the Executive Committee of the Board of Directors, in each case effective January 1, 2025.
View on SEC.gov
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