Beachwood, Ohio -- Developers Diversified Realty Corp. announced Monday that it will 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.
"Our new name accurately reflects the fact that we have simplified our strategy, portfolio and capital structure," said Daniel B. Hurwitz, president and CEO 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."
Included in the launch of the new brand is the tagline: "Think Retail. Create Value."