As of October 1st, the group of DAX board chairmen welcomed three new members into its ranks. On the same day, two women, Karin Rådström and Bettina Orlopp, and Stephan Leithner took up their new positions, which increased the proportion of women at the top of the DAX from 2.5 to 7.5 percent. There is a certain continuity associated with all changes. At Deutsche Börse, Theodor Weimer will retire from office at the end of the year at the age of 65. Leithner had already worked with him on the board for six years and was considered the natural successor. The Daimler Truck shareholders were also able to adapt to Rådström for longer. The engineer was poached by competitor Scania three years ago and joined the board to advance the issue of sustainability. According to the supervisory board’s assessment, she succeeded in doing this, which is why she qualified to succeed Martin Daum, who played a key role in determining the fortunes of Daimler’s former truck division for decades. This was also a comparatively predictable change. This also applies to Bettina Orlopp as a person. But the timing of the change in office at Commerzbank was surprising. It was triggered by the sale of state shares in the financial institution, which existed for a long time thanks to support from the federal government during the financial crisis. The suddenly visible interest of the Italian bank Unicredit soon called the Frankfurt institute’s independence into question.Orlopp for a difficult processManfred Knof, who made Commerzbank stable and profitable again after a long time with the help of the interest rate turnaround, recognized that, according to his understanding, he was in favor of a role as chairman of the board There was no more space and gave it up to his successor. Orlopp had already earned a good reputation in previous years as CFO and co-architect of the company’s strategy up to 2027. Now she will manage the difficult process into a changed ownership structure. All of this is happening at a time when the Dax performance index (which also reflects dividends and not just the price alone) seems almost unstoppable. It has exceeded its record high several times in the past few days. At the beginning of the week it stopped at just under 19,500 points. Considering the many assessments of the structural and economic situation of the German economy, this is remarkable. In order to display external content, your revocable consent is required. Personal data from third-party platforms (possibly USA) may be processed. More information. Activate external contentLeading macroeconomists believe that the weak growth will continue for a longer period of time due to increasingly noticeable demographic change. Older people are leaving the labor market and cannot be replaced by younger people. Even with artificial intelligence, productivity will not increase so much that the shortage of workers can be replaced. In addition, an aging society is losing interest in innovations, argues Moritz Schularick, President of the Kiel Institute for the World Economy, which specializes in global trade.Adnoc takes over DAX valueAnd the situation in the auto industry and the traces left by a sustainable transformation are still hurting economically is not seen as a central task in all management levels. In this situation, Volkswagen has lowered its forecast, the French-led international car group Stellantis and the British manufacturer Aston Martin issued profit warnings. The VW subsidiary Porsche was also hit by negative analyst assessments at the beginning of the week – albeit after shares had previously reached their highest level since July. On the other hand, the industry as a whole believes that it will benefit from the Chinese government’s economic stimulus plans. The takeover of the plastics company Covestro by the state-owned company Adnoc from the United Arab Emirates was completed this week. A capital increase of ten percent is intended. With the additional 1.2 billion euros, the spin-off of the Bayer Group aims to continue to grow strongly in lucrative business areas. Pre-products for the car and furniture industry remain in demand – even if the type of drive in the car industry is changing. But recently the company has had to struggle in the difficult economic situation. The current low propensity to consume among consumers in Europe is also causing problems for the company’s management. For the oil company from the Arabian Peninsula, the takeover is an opportunity to diversify its portfolio, as it is assumed that the oil business will become less important as CO2 emissions are increasingly considered. More on the topic This could bring fresh capital for Covestro that international markets are becoming even more important. The global interconnectedness of German companies is one of the most important explanations given by stock market experts for why the German economy and DAX records are happening at the same time. Globally, however, the situation is improving somewhat.
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