DaimlerChrysler Services on September 17 announced what it called a "management rotation at the executive level." Richard Wardwell, 56, who has been vice president of Mercedes-Benz Credit since December 2001, has been named president and CEO for DaimlerChrysler Services Canada. The company has named Juergen Rochert, 41, who has been pesident and CEO for DaimlerChrysler Services Canada since March 1999, as vice president, Mercedes-Benz Credit in the United States.

Both appointments are effective October 1.

In Wardwell's new position he will be responsible for providing financial services to Canadian dealers for Chrysler, Jeep(R), Dodge, Mercedes-Benz, Freightliner, Sterling and Western Star brands. Rochert's new responsibilities include all activities within Mercedes-Benz Credit in the U.S. and overseeing the operations of DaimlerChrysler Services Mexico.

According to DaimlerChrysler Services, "this management rotation stems from a forward thinking corporate philosophy where the exchange of corporate talent, at all levels, is seen as a way of promoting continuous improvement."

"Rick joined Freightliner Financial in 1977 and has earned a solid reputation in our highly complex finance business," said Juergen Walker, DaimlerChrysler Services president and CEO. "He has made key contributions to the dynamic direction of the Mercedes-Benz Credit organization and I am very confident in the proven track record Rick has and the future successes he will bring to the Canadian side of our financial services business.

"Juergen Rochert has been an integral part, over the last four years, in dynamically growing our business unit in Canada," Walker added.

"Both team members are proven leaders with financial services expertise in the automotive industry and they have both been important in developing our business. I personally would like to congratulate them in their new responsibilities," Walker said.

Wardwell, born in Philadelphia, has been vice president at Mercedes-Benz Credit since December 2001. He has held a series of increasingly responsible positions at both Freightliner Financial and Mercedes-Benz Credit organizations in the United States for more than 25 years.

Rochert was born in Sinzig, Germany and joined the company in 1982. He received his MBA at the University of Connecticut in April 1997. Along with his four years at DaimlerChrysler Services Canada, Rochert's previous experience includes managing director of Mercedes-Benz Leasing in Mexico.

About DaimlerChrysler Services North America LLC

DaimlerChrysler Services North America LLC provides brand-specific financing for automotive dealers' inventories and their retail consumers and does business as Chrysler Financial and Mercedes-Benz Credit.

As DaimlerChrysler Services Truck Finance it also finances commercial vehicles for affiliate products such as Freightliner, Sterling and Western Star.

The company serves as the headquarters for operations in the United States, Canada and Mexico and has more than 5,000 employees who manage a portfolio of $82 billion with nearly five million contracts.

DaimlerChrysler Services North America is a member of the DaimlerChrysler Services Group, headquartered in Berlin, Germany, which operates in 39 countries with an employee base exceeding 10,800 and a global portfolio of EUR 103 billion.