Developers Diversified Becomes DDR
Developers Diversified Realty Corporation is a bit of a mouthful, don’t you think? Apparently, the company agrees — it has rebranded itself to the name it’s far more commonly known as: DDR Corp.
The goal isn’t just to save a few syllables, however. “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.”
The company’s new tagline also reflects that razor focus: “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.
