Mercedes-Benz Financial Services Canada Announces Top Management Changes

President and CEO Brian Fulton to lead Mercedes-Benz Auto Finance ChinaStefan Karrenbauer, currently Chief Operating Officer of Mercedes-Benz Bank to succeed Fulton and lead Mercedes-Benz Financial Services CanadaAppointments effective today

MISSISSAUGA, Ontario, Feb. 1, 2012 /CNW/ - Mercedes-Benz Financial Services (MBFS) Canada Corporation announced today top management changes at the company. Brian Fulton, currently President and CEO with operational responsibilities for the financial services activities in Canada, will lead the financial services operations in China. In this position, Fulton will report directly to Richard Howard, Daimler Financial Services Board of Management Member responsible for the Africa, Asia Pacific region.

Fulton will lead the team in China after having spent 18 years with the company. During his career, he has held key leadership positions within the company including Daimler Truck Financial and Mercedes-Benz Financial in the USA. After 10 years working for the company in the USA, he returned to his home country in 2008 to lead the MBFS Canada team. Since becoming President and CEO of MBFS Canada, Fulton has been instrumental in the company's dynamic growth, has increased dealer and customer satisfaction and has contributed to making the company a recognized great place to work in Canada. Since 2011, Fulton was an active member of the Americas Operations Committee, which is responsible for the financial services operations in the Americas.

Stefan Karrenbauer, currently responsible for Operations Development Mercedes-Benz Bank and Europe, will succeed Fulton as President and CEO, Mercedes-Benz Financial Services Canada effective today and be an active member of the Operations Committee. Karrenbauer has been with the company since 1996 and has held key leadership positions in the United States, France, and Belgium. He reports directly to the MBFS Americas President and CEO Peter Zieringer.

"These appointments demonstrate the depth of our leadership team and the changes will further strengthen our organization, provide a foundation for greater collaboration and learning within our global operations and create opportunities for enhanced synergies and greater efficiencies across borders," stated Zieringer.

About Mercedes-Benz Financial Services USA LLC

Mercedes-Benz Financial Services USA LLC, headquartered in Farmington Hills, Mich., with Business Center Operations in Fort Worth, Texas, provides brand-specific financial services and products for Mercedes-Benz automotive dealers and their retail customers. It also provides financial support to smart USA dealers and customers.

In the U.S. trucking industry, it conducts business as Daimler Truck Financial and finances Daimler Trucks North America commercial vehicles branded Freightliner, Western Star and Thomas-Built Buses. Mercedes-Benz Financial Services USA LLC serves as the headquarters for operations in the United States, Canada, Mexico, Argentina and Brazil, and has approximately 1,500 employees. It is a company of the Daimler Financial Services Group, headquartered in Berlin, Germany, which does business in 39 countries with an employee base of approximately 6,700. Daimler Financial Services is one of the leading financial services organizations worldwide. For more information, go to: mbfs.com

SOURCE Mercedes-Benz Financial Services

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CONTACT: James Ryan, +1-248-991-6600

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