Mercedes-Benz Financial Services Korea Appoints Fritz Kavaum as New CEO

by Woo Sooyoun

Published 04 Jan.2021 08:41(KST)

[Asia Economy Reporter Suyeon Woo] Mercedes-Benz Financial Services Korea announced on the 4th that Fritz Kabaum (photo), Chief Financial Officer (CFO) of the Asia-Pacific region, has been appointed as the new CEO.

New CEO Kabaum is an expert in finance and automotive finance who has experience across Daimler Group affiliates including Daimler AG, Mercedes-Benz AG, Daimler Financial Services, and Mercedes-Benz Bank AG. He joined Daimler's headquarters in Bonn, Germany in 1991 and has developed global capabilities through working at various Daimler Group affiliates located in Europe, North America, South America, and Asia.

Appointed as CEO effective January 1 of this year, Kabaum recently served as the CFO of Daimler Financial Services Africa Asia-Pacific region based in Singapore. Previously, he held positions as CEO of Mercedes-Benz Financial Services Greece and CFO of Mercedes-Benz Financial Services Italy.

CEO Kabaum stated, "Korea is an important market within the Mercedes-Benz Group with steadily increasing demand for automotive financial solutions, making it a market with high growth potential. We will continuously listen to the voices of domestic customers and provide differentiated financial and leasing solutions so that customers can use vehicles conveniently and flexibly."