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Historical Milestones
On February 25, 2000, DaimlerChrysler, Ford Motor Company and General Motors jointly announced plans to combine efforts and form a single global business-to-business supplier exchange. Each company brought together its individual e-business initiatives to avoid the burdens suppliers would endure if asked to interact with redundant proprietary systems.
The goal was integration and collaboration, promising lower cost, easier business practices and a marked increase in efficiencies for the entire industry. This new organization was temporarily named NewCo.
Year 2000
March, 2000
The NewCo Planning Team, including executives from DaimlerChrysler, Ford's Auto-Xchange and GM TradeXchange, moves into its temporary headquarters in Southfield, Mich.
April, 2000
On April 14, 2000, French automaker Renault S.A. and Nissan of Japan join the NewCo planning initiative. In addition to bringing personnel and resources to the initiative, Renault and Nissan lead the development of the European and Asian operations respectively.
May, 2000
"NewCo" becomes Covisint.
July, 2000
Several Tier 1 automotive suppliers publicly voice their support and intent to join Covisint. In addition, the Federal Trade Commission review of Covisint begins.
August, 2000
The Covisint Customer Council is formed.
September, 2000
Covisint receives clearance from the Federal Trade Commission on September 11, 2000. The German Bundeskartellamt grants unconditional clearance to Covisint 12 days later on September 23. Covisint launches the exchange six days later on September 29, with a mock auction involving ArvinMeritor. Its initial suite of tools includes products for auctions, catalogs, quote management and collaboration.
October, 2000
Covisint Europe sets up temporary headquarters in Stuttgart and on October 3, Covisint begins its first live transactions with ArvinMeritor. On October 30, Covisint launches a global advertising campaign and unveils its new brand identity system, the Connector.
November, 2000
Auto-Xchange and GM TradeXchange begin their integration into Covisint in November 2000.
December, 2000
Covisint becomes a legal entity on December 8, 2000. The organization is a multi-member joint venture known officially as Covisint, L.L.C. - with DaimlerChrysler AG, Ford Motor Company, General Motors, Nissan, Renault, Commerce One and Oracle as members. Covisint also reaches definitive agreements with its technology partners Commerce One and Oracle. Covisint Asia-Pacific establishes temporary headquarters in Tokyo.
Year 2001
January, 2001
On January 24, 2001 Covisint announces the election of the first 12 members of its 17 member Board of Directors.
April, 2001
On April 18, Kevin English is named Chairman, President and CEO of Covisint.
May, 2001
Covisint Europe B.V. begins operations in Amsterdam and PSA Peugeot Citroën joins Covisint.
July, 2001
Covisint's Asia-Pacific office, Japan K.K. is opened in Tokyo and the European Commission approves Covisint.
August, 2001
Covisint forms Covisint, Inc. to act as a holding company and support long-term growth initiatives.
December, 2001
Covisint celebrates its one-year anniversary on December 8.
Year 2002
January, 2002
Covisint announces its intent to locate the company's world headquarters in Southfield, Mich.
February, 2002
The newly formed Global Customer Council (GCAC) replaces the original Covisint Customer Council. The GCAC meets quarterly and includes suppliers and OEMs from around the world.
June, 2002
Kevin English resigns as Chairman, CEO, and President
June, 2002
Harold R. Kutner named Chairman and CEO. Bruce R. Swift named President and COO.
December, 2002
Covisint has best sales quarter ever.
December, 2002
Covisint receives Trust Services certification.
Year 2003
January, 2003
Covisint membership surpasses 76,000.
March, 2003
Covisint establishes Latin America sales and service office.
April, 2003
Covisint moves to a new facility; Bruce Swift named Chairman.
June, 2003
Bob Paul named President and CEO.
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