In the newest round of corporate executive shuffling news, DaimlerChrysler has announced today that they have appointed Klaus Maier, current director of development for the company's worldwide sales organization, the new president and chief executive of Mercedes-Benz (China) Ltd.

Maier will begin his new role January 1st of next year, where his duties will include the sales, marketing, network development, after-sales and service of Mercedes-Benz passenger cars in mainland China, Hong Kong and Macau.

Replaced by Maier is Peter Honegg, who recently became president and chief executive of DaimlerChrysler Malaysia.

To learn more, head over to MarketWatch for the full scoop.

[Update:  When originally posting this story, we stated in error that Klaus Maier, current vice president of the Mercedes Car Group, would be taking over the role as president of Mercedes-Benz China. While it's true Klaus Maier has been named president of Mercedes-Benz China, it is a different individual by the name of Klaus Maier also working within the company that will be taking over the role. We apologize for the confusion.]