Mercedes-Benz Announces Leadership Transition: Adam Chamberlain to Succeed Dimitris Psillakis as CEO of Mercedes-Benz USA
Adam Chamberlain returns to Mercedes-Benz USA (MBUSA) to lead North American Marketing and Sales, bringing years of U.S. automotive experience and fresh momentum to the brand's next chapter
Dimitris Psillakis transitions into a new role as Senior Strategic Adviser until the end of 2025, after a distinguished leadership journey across global markets
ATLANTA, April 15, 2025--(BUSINESS WIRE)--Mercedes-Benz is announcing a leadership transition in its North American operations. Effective July 1, Adam Chamberlain will become CEO of Mercedes-Benz USA (MBUSA) as well as Head of Marketing and Sales, Mercedes-Benz Cars North America. He will succeed Dimitris Psillakis, who will transition into the role of Senior Strategic Adviser.
"We're excited to welcome Adam back to Mercedes-Benz. Adam is a proven executive with over 30 years of global automotive experience including the past nine years in the U.S. He brings an exceptional blend of strategic and operational excellence in both the manufacturer and retail businesses as well as a strong connection to our team, dealers, and customers. Working together with newly appointed CEO of Mercedes-Benz North America, Jason Hoff, Adam and his team will play a key role in navigating transformation and laying the groundwork for long-term success. At the same time, we're extremely grateful to Dimitris for his commitment and impact, and we're pleased that his insights will continue to guide our strategy in his advisory role throughout the end of the year."
Mathias Geisen, Member of the Board of Management of Mercedes-Benz Group AG, Marketing & Sales
Over his 33-year career at Mercedes-Benz, Dimitris Psillakis has held leadership roles across key international markets, including Europe, South America, and Asia. Most recently, he has been a driving force behind Mercedes-Benz's success in the U.S. and Canada. Since taking on the role of Head of Sales for North America in late 2020, Psillakis has worked closely with dealer partners to successfully navigate a challenging market environment shaped by supply chain instability and an accelerating pace of industry and technological change. He played a pivotal role in charting a clear and transformational path forward for the company—leading efforts to modernize the customer experience through digitalization and advancing the company's electrification strategy with the introduction of new all-electric and plug-in hybrid vehicles to the North American portfolio. In his upcoming role as Senior Strategic Adviser, Psillakis will continue to support key strategic initiatives until the end of this year and work closely with the leadership team to ensure a seamless transition.
Adam Chamberlain rejoins Mercedes-Benz with extensive leadership experience across the automotive value chain. Most recently, he served as Executive Vice President and Chief Operating Officer at one of North America's largest dealership groups, Lithia & Driveway, where he was responsible for the operational performance of over 300 dealerships across the U.S., overseeing more than $30 billion in revenue. Prior to that, he was President of Aston Martin The Americas. From 2016 to 2021, Chamberlain served at Mercedes-Benz USA as Vice President of Sales and Product Management, helping to lead the brand's retail and product strategy in the dynamic U.S. market. With more than 30 years of global experience in the industry, Chamberlain is known for his collaborative leadership style and ability to drive performance. He will lead MBUSA's more than 1,600 employees and more than 380 dealer partners throughout the U.S. as well as an additional 200 employees and 59 dealers in Canada. Chamberlain lives in Atlanta with his family.
This leadership change reflects Mercedes-Benz's continued commitment to innovation, customer excellence, and long-term growth in the USA. With Chamberlain at the helm and a dedicated, highly skilled MBUSA team, the company is well-positioned for the road ahead.
About Mercedes-Benz
Mercedes-Benz USA (MBUSA), headquartered in Atlanta, is responsible for the distribution, marketing and customer service for all Mercedes-Benz products in the United States. MBUSA offers drivers the most diverse lineup in the luxury segment with 18 model lines ranging from the sporty GLA SUV to the flagship S-Class and the dynamic all-electric vehicles from Mercedes-Benz. MBUSA is also responsible for Mercedes-Benz Vans in the U.S. More information on MBUSA and its products can be found at www.mbusa.com and www.mbvans.com. To learn more about all Mercedes-Benz entities in North America, visit https://group.mercedes-benz.com/northamerica/.
Accredited journalists can visit our media site at media.mbusa.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250415992968/en/
Contacts
Corporate Communications Teamcorporatecommunicationsmbusa@mbusa.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
15 minutes ago
- Yahoo
BMO hires BofA vet Levine
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Bank of America veteran Aron Levine will become group head and president of BMO U.S., effective July 7, the Canadian bank said Thursday. Levine's role is a new position at BMO, a bank spokesperson said. Levine left BofA in April, after spending more than three decades in various roles at the bank. Additionally, Ernie (Erminia) Johannson – who has led BMO's North American personal and business banking group since 2020 – intends to retire from BMO in early 2026, the bank said. She will become a senior adviser at the company. During Levine's nearly 32 years at Bank of America, he led units within consumer banking, global wealth and investment management, and commercial real estate. Most recently, he was president of preferred banking at the Charlotte, North Carolina-based lender. With his new role, Levine will join the executive committee of BMO Financial Group and the U.S. management committee. He'll be based at BMO's U.S. headquarters in Chicago, leading personal and business banking, commercial banking and wealth management businesses in the U.S. He'll report to BMO CEO Darryl White and BMO U.S. CEO Darrel Hackett. Levine's appointment was one of a number of changes disclosed Thursday amid a broader executive reshuffling, along with Johannson's retirement. Johannson has been at Toronto-based BMO since 2012. Prior to that, she served at Fidelity Investments and spent 13 years at CIBC, according to her LinkedIn profile. Additionally, Nadim Hirji will be appointed vice chair of BMO's commercial banking segment. Hirji has led BMO's North American commercial banking business since March 2023, the bank said. 'Today's announcement reflects BMO's deep strength in talent development and planning, and our ability to attract exceptional leaders to serve our clients,' White said in the news release. 'This next step supports the rebuilding of our ROE, including optimizing our U.S. structure by combining our U.S. Personal & Business Banking, Commercial Banking, and Wealth Management businesses to deliver for our clients,' White said. 'These experienced leaders bring the capabilities that will help us accelerate our performance through greater collaboration, integration of AI, data and cloud computing for faster, more innovative work, and personalized client advice and service.' The reshuffle detailed Thursday is aimed at supporting the bank's growth goals across Canada and certain U.S. markets and bolstering client service, BMO said. Sharon Haward-Laird, BMO's general counsel, will become group head of Canadian commercial banking and North American shared services. Mat Mehrotra, chief digital officer and head of Canadian products, will become group head of Canadian personal and business banking. Haward-Laird, who joined BMO in 2000, and Mehrotra, who's been at the bank since 2010, have also been named co-heads of Canadian personal and commercial banking. Haward-Laird will remain on the lender's executive committee, and Mehrotra will join it. Paul Noble will become general counsel and group head of legal and regulatory compliance and join the bank's executive committee. Noble has been at the bank since 2003 and serves as corporate secretary in the enterprise legal department. Mona Malone, the bank's chief human resources officer, will also take the chief administrative officer title, and remain on the bank's executive committee; she's been at BMO since 1996. Deland Kamanga will remain group head of wealth management and on the executive committee, but has been tapped as the committee's sponsor for initiatives designed to deepen and expand client relationships across BMO's businesses. All of the changes take effect July 7. BMO is the seventh-largest bank in North America by assets, with $1.4 trillion, and serves 13 million customers across Canada, the U.S. and certain international markets. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Prada Group Bolsters Vertical Integration With Strategic Stake in Rino Mastrotto Group
MILAN — Prada Group continues to invest in Italy's pipeline and in the company's vertical integration. On Thursday, the Italian luxury group said it has acquired a 10 percent stake in leading tannery Rino Mastrotto Group. More from WWD Sabrina Carpenter Teases New Prada Beauty Product in Her 'Manchild' Music Video Patrizio Bertelli, Francesco Milleri, More Fashion Execs Receive Cavaliere del Lavoro Honor in Italy Capri Holdings Plots Turnaround After Steep Q4 Losses Under the terms of the agreement, Prada has taken full control of tannery Conceria Superior SpA and Tannerie Limoges S.A.S., and is contributing in kind 100 percent of the two companies to Rino Mastrotto Group. In addition, Prada is making a cash investment in a minority stake in Rino Mastrotto Group, which allows it 'to strengthen its control over a highly strategic phase of the production process,' said chairman and executive director Patrizio Bertelli. 'Our groups share a passion for quality, innovation and sustainability; we are proud to foster synergies and promote consolidation along the value creation chain and the Made in Italy.' Rino Mastrotto Group is a global provider of materials and bespoke services for the luxury industry. The transaction, which is expected to close between the end of the second quarter and the beginning of the third quarter, contributes to fostering long-term industrial development and reinforces the commercial relationship between the two groups. The agreement 'reflects our ongoing commitment to investing in the luxury segment,' said Matteo Mastrotto, chief executive officer of Rino Mastrotto Group, which is jointly owned by Renaissance Partners and the Mastrotto family. 'Having Prada Group as a shareholder is a testament to a long-standing collaboration built on trust and enhances our industrial vision to ensure sustainable growth.' Rino Mastrotto Group employs more than 1,300 people across five continents and generates a turnover of approximately 360 million euros. Under its umbrella, several companies and brands operate within the luxury segment, including Rino Mastrotto, Basmar, Pomari, Nuova Osba, Tessitura Oreste Mariani and Mapel. The group is also active in the automotive sector through Brusarosco in Italy and Elmo Leather in Sweden, and in interior design through its Italian division, Elmo Leather, the North American distribution branch Carrol Leather, and Imatex in the textile sector. Morelab, a Tuscan company, is a specialized provider of tailor-made services. 'This transaction adds significant strategic and industrial value, further enhancing Rino Mastrotto's equity story and supporting both its growth and consolidation journey,' said Alessio Masiero, partner at Renaissance Partners. Renaissance Partners invests in four sectors: sustainability, information technology, health care and specialized industrials, managing more than 2.8 billion euros, with investments in 12 companies and an aggregate turnover of approximately 6 billion euros. Bertelli has often prided himself for starting back in the '90s to build the group's network of plants that has grown in time to comprise 24 industrial facilities, of which 21 are in Italy, believing in factories 'as families,' creating the group's own pipeline, from product to retail, and investing over the years in protecting Italy's supply chain and small- and medium-sized companies. Among some of the key investments, for example, Prada Group twice joined forces with the Ermenegildo Zegna Group to acquire a majority stake in Filati Biagioli Modesto SpA in 2021, and in 2023 to buy a 15 percent stake each in knitwear and fine yarns specialist Luigi Fedeli e Figlio Srl. In 2022, Prada took a 43.65 percent stake in Superior, based in Santa Croce sull'Arno in the province of Pisa, Tuscany. The company, a leader in calfskin processing, has been active for more than 60 years in the Italian and international markets as a specialized tanner for the luxury sector. And in 2014, it acquired historic French tannery Tannerie Limoges, founded in 1936, relaunching the storied production site, specialized in lambskin tanning and in particular in the tanning of plongé napa leather. In addition, aiming at the integration of a luxury brand, Prada in April confirmed it was acquiring 100 percent of Versace from Capri Holdings for 1.25 billion euros, a transaction which is expected to close in the second half of the year. Best of WWD EXCLUSIVE: Sean Combs Regains Control of Sean John Brand Isabel Marant Said in Play Again: Sources Holding Industriale Invests in Shoe Specialist Valmor Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
Unshackled Wells Fargo Fights to Regain Momentum Lost in Penalty Box
Wells Fargo shares rose over 2% early Wednesday, hitting a three-month high, after the Federal Reserve lifted an asset cap imposed following regulators' determination that the bank had exploited its own customers. The stock, a little hot out of the gate, spent the rest of the day ticking downward and, by the time the closing bell rang, had fallen 0.3% for the day. While a banking juggernaut may have been unshackled to pursue a determined growth strategy, some Wall Street observers think its ambitions are already priced in. READ ALSO: Tariffs Deliver Record Drop in US Trade Deficit and Circle Spirals Upward in $1 Billion IPO There was a period in the late 2010s when Wells Fargo tallied up more scandals than the National Enquirer, the most notorious being when its employees juiced sales numbers by setting up millions of fake deposit and credit card accounts in customers' names without their consent. US regulators got so fed up that they imposed a $1.95 trillion asset cap in 2018, ordering the lender to keep its balance sheet frozen at 2017 levels. Obviously, that left the lender — which Bloomberg estimates lost out on $39 billion in profits under the cap — hamstrung for seven years in the face of fierce competition. From the end of 2017 to March of this year, JPMorgan Chase's assets grew from $2.5 trillion to $4.3 trillion, while Bank of America's rose from $2.3 trillion to $3.3 trillion. Now, Wells Fargo is free to pursue growth, which post-scandal CEO Charlie Scharf has been plotting for years: Once home to the largest US mortgage operation, Wells Fargo has retreated from the multi-trillion-dollar sector under Scharf, who has sold the bank's asset management business, corporate trust division, student loan portfolio, rail equipment leasing unit, and most recently, the bulk of its commercial mortgage-servicing unit. What he's positioned for expansion are trading and investment banking, which were handcuffed by the cap. Wells Fargo has added over four dozen senior bankers since 2020 and scored a major coup last year when Scharf convinced the departing head of JPMorgan's North American investment banking, Fernando Rivas, to run the San Francisco-based lender's corporate and investment bank. Early results are promising: Investment banking fees grew 62%, investment advisory fees 13%, and trading revenues 10% in 2024 — though Wells' operations are a fraction of the size of JPMorgan's. Taking Stock: Apart from the muted performance on Wednesday, Wells Fargo shares have climbed 7.3% in 2025, outperforming the 4.3% gain by the S&P 500 Banks Index. But that explains why some investors are cautious. HSBC analysts noted in a report that 'markets have been increasingly pricing in the asset cap removal, possibly limiting near-term upside.' Shares are already up 28% in the past year. JPMorgan analysts, for example, kept their $73.50 price target after the news of the cap removal. But others on Wall Street are betting Wells Fargo will muscle its way higher as it beefs up investment banking operations: Bank of America hiked its target to $90 a share from $83 after the asset cap's removal, and Morgan Stanley raised its target to $87 from $77. This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
