Mercedes-Benz USA will promote marketing chief Steve Cannon to president and CEO, effective Jan. 1.

Cannon, 50, has been vice president of marketing for Mercedes-Benz USA since June 2007. He will replace Ernst Lieb, 56, who was fired abruptly in October for alleged misuse of company funds.

Cannon is only the second American to become CEO of Mercedes-Benz USA, according to a company spokeswoman. The first was Mike Jackson, who is now CEO of AutoNation Inc.

Herbert Werner, 56, vice president of finance at Mercedes-Benz USA and the only German on the automaker’s U.S. executive team, has been serving as interim CEO.