Porsche made its debut in the Dax.
Naturally.
The IPO is the IPO hit of the year, the immediate inclusion in the Dax is a matter of course, the first listing in the first German stock exchange league takes place with a price increase.
That's what you call befitting.
But even if all those responsible try to ignore the sting, it is deep and it will not go away.
You don't even know what's worse: the underground company management in the course of this Volkswagen-Porsche cooperation in general or the fact that the simultaneous VW and Porsche CEO Oliver Blume repeatedly emphasizes the meaningfulness of the entanglements - and excludes conflicts of interest.
Porsche can still appear like this, because its success proves Blume right.
However, the Porsche and VW management feels a false sense of security, because the standards according to ESG (ecology, social issues and good corporate governance) are not becoming more lax, but stricter.
The pressure will increase.
Porsche is still fortunate that the debate about sustainability focuses primarily on the E of ESG, the ecology.
The automobile manufacturer is top in this area.
The transformation towards electrification is a success.
But the caravan of investors will have to pass Porsche as S and G increasingly come into focus.
Turning a blind eye to this is either naïve or ignorant.
Neither is worthy of a Dax group.