Mercedes-Benz Financial Services USA LLC Announces Top Management Changes

FARMINGTON HILLS, Mich., June 6, 2011 /PRNewswire/ --

• President and CEO Franz Reiner to lead European Region and become Chairman of Mercedes-Benz Bank in Germany
• Peter Zieringer, Current Chairman of Mercedes-Benz Bank to lead Americas Region as President and CEO
• Peter Zieringer Appointed to Daimler Financial Services Board of Management
• Appointments Effective August 1, 2011

Mercedes-Benz Financial Services USA LLC announced today top management changes at the company. Franz Reiner, currently President and CEO with operational responsibilities for the Americas (USA, Canada, Argentina, Brazil and Mexico) will lead the operations in Europe in addition to becoming Chairman of the Mercedes-Benz Bank in Stuttgart, Germany.

(Photo: http://photos.prnewswire.com/prnh/20110606/DE13969-a)

(Photo: http://photos.prnewswire.com/prnh/20110606/DE13969-b)

Replacing Reiner will be Peter Zieringer, who is currently Chairman of the Mercedes-Benz Bank in Germany. In addition to Zieringer's new role in the Americas, he has also been appointed to the Daimler Financial Services Board of Management reporting to its Chairman, Klaus Entenmann.

Reiner returns to the Mercedes-Benz Bank where he started his career 18 years ago as a trainee. In 2005, Reiner took over the financial services operations in Canada. In 2007, Reiner was named Vice President Mercedes-Benz Financial Services for the USA in addition to being responsible for the Canadian market. In December 2009, Reiner succeeded Klaus Entenmann as President and CEO of Mercedes-Benz Financial Services with overall responsibility for the financial services activities in the Americas.

Peter Zieringer started his career in 1993 with Daimler AG. In 1995 he moved to Singapore to build the financial services activities in the region. In 2001, Zieringer was named managing director of the financial services activities in France which saw dynamic growth under his leadership. Zieringer was appointed Chairman of the Mercedes-Benz Bank in 2005 which has been a significant contributor to the overall profits of Daimler Financial Services.

"I congratulate both Franz Reiner and Peter Zieringer on their new positions. For years, they have greatly contributed to the success of our company," stated Daimler Financial Services AG Chairman Klaus Entenmann.

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 USA LLC