Proudly Daimler
Daimler Chrysler AG is now Daimler AG, bringing back the days where the proud name of Carls Friendrich Benz flies high once again.
98% of DaimlerChrysler AG's shareholders overwhelmingly voted to change the company's name to Daimler AG, seeing it as a way of distancing the company from a disastrous $36 billion merger in 1998 with Chrysler.
Chrysler was sold off to private equity firm Cerberus Capital Management in August 2007 for approximately $6 billion.
With the rename of their passenger car division, Carl Friedrich Benz will once again be honored. Benz's company combined with Gottlieb Daimler in 1926, but the Chrysler merger saw his name dropped from the car's branding.
"The proud name of Benz will not only remain prominent, it will have significantly higher visibility," said Dieter Zetsche, CEO of Daimler AG.
Zetsche continued to pull his company away from its past mistakes by commenting that the "group name Daimler clearly indicates that we are writing a new chapter of our history, while at the same time continuing our tradition as the inventor of the automobile."
"And this rich heritage will remain an essential part of our identity -- of our DNA, so to speak."
In the local context, DaimlerChrysler South East Asia will also be renamed Daimler South East Asia Pte. Ltd, where the division handling wholesale operations for the import and distribution of passenger cars and commercial vehicles in Singapore will be renamed Mercedes-Benz Singapore.
Credits: Jarvis
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