STUTTGART: The troubled marriage of automakers Daimler-Benz and flagging Chrysler Group is finally over. And to draw a line under the nine year union, shareholders have decreed the German firm will be known simply as Daimler.
Lobbyists for the return of the Benz moniker (dropped as part of the wedding vows) were out-voted.
They were told by ceo Dieter Zetsche: "The group name Daimler clearly indicates that we are writing a new chapter in our history, while at the same time continuing our tradition as the inventor of the automobile."
He insisted the company was not forgetting the name of its founding father, Karl Benz. It would remain in the company's flagship luxury marque, Mercedes-Benz.
Zetsche said Daimler needed to differentiate its individual product brands from the corporate entity, and surveys showed that Mercedes-Benz was "the most coveted automobile brand in Germany."
Daimler sold more than 80% of its holding in US-headquartered Chrysler to private equity firm Cerberus earlier this year.
Data sourced from New York Times; additional content by WARC staff