Posted on: Sunday, September 12, 2021 – 6:53 AM | Last update: Sunday 12 September 2021 – 6:53 AM
A survey concludes that the upcoming expansion of Germany’s main stock index DAX from 30 to 40 companies will increase the number of people with an international background occupying positions on the boards of companies listed on the DAX.
Among the 10 companies to be added to the DAX index on September 20 are French-German aircraft maker Airbus, sportswear company Puma, online fashion retailer Zalando and medical technology company Siemens Healthcare.
Four sectors have long dominated the German stock market scale: chemicals, automobiles, energy and financial services. The expansion aims to present a better picture of Europe’s largest economy.
After the expansion, 90 of the 241 corporate board members will be foreign passport holders, or 37%, according to a survey by consulting firm Simon-Kutcher & Partners, a new record for the index.
“It is worth noting that all 10 newcomers to the DAX have at least one board member holding a foreign passport,” said survey author Christoph Lesch.
The company, “Simon – Kutcher & Partners”, stated that the DAX index after the expansion has become “more diverse than ever,” noting that there are 26 nationalities represented in the index, but American, British and French citizens constitute the largest groups.