Mercedes-Benz Credit Names Mark Korman Vice-President of Marketing

SOUTHFIELD, Mich., May 6 -- Mercedes-Benz Credit, a DaimlerChrysler Services business unit, named automotive veteran Mark Korman to the newly created position of Vice-President Mercedes-Benz Credit Marketing effective May 1, 2002. In this position Korman will report directly to Richard Wardwell, Vice-President of Mercedes-Benz Credit. His responsibilities will include the strategic development of Mercedes-Benz Credit marketing and provide direction and operational support to the three business centers in Atlanta, Wilmington and Portland.

The position has been created to strategically focus the financial services product development with the growing needs of the consumer while maximizing the joint planning process between Mercedes-Benz Credit and Mercedes-Benz USA. The Remarketing and Starmark -- the certified pre-owned vehicle program -- activities as well as dealer relationship support and training will be integrated into this position.

"We are extremely pleased to have a leader of Mark's caliber to complement the Mercedes-Benz Credit team. His extensive experience on the automotive side in various positions enables him to drive the marketing efforts of Mercedes-Benz Credit down new roads of dealer and customer satisfaction with respect to our products and processes," stated Wardwell.

Since joining Mercedes-Benz in 1978 in the risk management department, Korman has served the company in a wide variety of positions, including Director of Field Operations, General Manager of Franchise Development and most recently Regional General Manager of the Southeast Region. He's been a member of MBUSA's senior management team since 1995.

Korman earned a bachelor's degree in finance and operations from Boston University and an MBA in finance from Fordham University. He is currently relocating to Southfield, Michigan with his wife and their three children.