DaimlerChrysler AG is now officially known as Daimler AG (since 4th Oct actually), but not everyone is too happy about the new name of the company after the Chrysler name was dropped, erasing a legacy of a failed so-called merger of equals back in 1998.
Karl Benz’s great-great grandniece Heidemarie Hirsch is urging shareholders to restore the Benz name to the company, which was previously known as Daimler-Benz AG before the merger with the Chrysler Group. “The company could also be called Benz AG. Give the company back its soul!” she says. To make up for the missing Benz name, Dieter Zetsche says the group has decided to rename its car business from Mercedes Car Group to Mercedes-Benz Cars. DaimlerChrysler Bank will be renamed to Mercedes-Benz Bank.
“The proud name of Benz will not only remain prominent, it will have significantly higher visibility,” says Dieter Zetsche. This move is not enough to pacify Hirsch and other protesters to the missing Benz name, apparently.
The name changes in this exercise will cost 70 million euros, and this does not include the recent US$20 million payment to Ford for the usage of the Daimler name, which is owned by Ford and is used by Jaguar for it’s high-end cars.