BEACHWOOD, Ohio, Sept. 12, 2011 /PRNewswire/ -- Developers
Diversified Realty Corporation (NYSE: DDR) today announced plans to
officially change its name to DDR Corp., and adopt its New York
Stock Exchange ticker symbol and most commonly-referred identity,
DDR, as its official brand name. The company also unveiled a new
logo, tagline and brand identity.
(Logo: http://photos.prnewswire.com/prnh/20110912/CL65938LOGO
)
"Our new name accurately reflects the fact that we have
simplified our strategy, portfolio and capital structure," said
Daniel B. Hurwitz, president and
chief executive officer of DDR. "The words 'developers' and
'diversified' no longer have primary significance in our company
strategy. Ground-up development of new shopping centers, while
still part of our business, no longer warrants top billing in our
name. Furthermore, our focus on open-air, value-oriented shopping
centers renders the word 'diversified' inaccurate."
DDR maintains a deep appreciation for the market in which it
operates, and management views itself, first and foremost, as
stewards of shareholder capital. Formally adopting its New York
Stock Exchange ticker symbol, DDR, as its official identity is
meant to reflect this humble reality. In addition, it signifies the
acceptance of the corporate identity to which the company is most
commonly referred within the industry.
Included in the launch of the new brand is the tagline: "Think
Retail. Create Value."
"The new tagline is meant to emphasize to both tenants and
employees that one of our prime differentiators is a sincere effort
to see the world through the eyes of our customer – the retailer.
It is also meant to remind our investors that our primary purpose
for being is the creation of long-term shareholder value," Mr.
Hurwitz concluded.
Visitors to www.ddr.com may see and experience the new brand,
and learn more about the company.
DDR will remain an Ohio
corporation. DDR common stock will continue to trade on the New
York Stock Exchange under its current ticker symbol "DDR."
About DDR
DDR is an owner and manager of 546 primarily open-air,
value-oriented shopping centers that leverages its retail knowledge
to help tenants be successful and create value for its
shareholders. DDR operates a total of 126 million square feet in 41
states, Puerto Rico and
Brazil, concentrated in high
barrier-to-entry markets with stable populations and high growth
potential. DDR is a self-administered and self-managed REIT
operating as a fully integrated real estate company, and is
publicly traded on the New York Stock Exchange under the symbol
DDR. Additional information about the company is available at
www.ddr.com.
SOURCE DDR Corp.