Delivery Hero Gets Ejected From Germany’s DAX Index in Reshuffle

Delivery Hero SE is getting booted from Germany’s DAX Index, less than two years after gaining entry, as the market meltdown costs the benchmark some of its new-economy shine.

The food-delivery company will be replaced by Beiersdorf AG, the maker of Nivea skin cream, according to index compiler Qontigo, a subsidiary of Deutsche Boerse AG. The change will go into effect June 20.

The shift represents a step back in the DAX’s attempt to transform itself into an index that houses more modern and growth-focused companies. The benchmark moved in that direction in September, when it expanded ...