MISSISSAUGA, Ontario -

Mercedes-Benz Financial Services Canada president and chief executive officer Brian Fulton has been chosen to head up financial services in China; and appointed to take his place in Canada is Stefan Karrenbauer, the company announced earlier this week.

The changes were officially effective on Wednesday.

Karrenbauer most recently headed up operations development at Mercedes-Benz Bank and Europe, while Fulton has been president and CEO of MBFS Canada since 2008.

As some may recall, Fulton served as the keynote speaker at the 2009 Auto Remarketing Canada conference in Montreal.

For more information on the 2012 Auto Remarketing Canada conference presented by CarProof, visit here.

“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,” shared MBFS Americas president and CEO Peter Zieringer.

Fulton has been with the company for 18 years, including U.S. leadership positions with Daimler Truck Financial and Mercedes-Benz Financial.

Karrenbauer came aboard in 1996. His leadership posts have included time in the U.S., France and Belgium.

Karrenbauer reports to Zieringer in his new position, while Fulton reports to Richard Howell, Daimler Financial Services board of management member
responsible for the Africa/ Asia Pacific region.

With his new post leading Canada, Karrenbauer will work on the Americas Operations Committee, of which Fulton was an active member during his tenure, officials noted.