Chrysler Shakeup > Nardelli In, LaSorda Out (Sort Of)
[Image Source: John Abbott]
By Gunnar Heinrich
Chrysler's current top boss, Tom LaSorda will step down as chief executive officer in favor of Robert Nardelli, former Home Depot head honcho.
In the company's bid to shake things up at Chrysler, Cerberus Management has brought in an executive with a wild 'n crazy past of sending himself and other execs off with 24K gold parachutes.
According to Kevin Krolicki and David Bailey at Reuters:
"In Nardelli, Chrysler is getting a former senior General Electric Co. executive, who was both credited with overhauling purchasing and technology systems at Home Depot and widely criticized for pay and Severance packages seen as excessive."
And to soothe any outstanding fears there might be in hiring a Mulally-esque industry outsider, the new boss had this to say:
"Chrysler has many deeply talented and dedicated people, and I am confident that together we can continue the momentum of Chrysler's recovery and return this great American icon to a path for global growth and competitiveness," Nardelli said.
Dethroned Tom LaSorda will stay on as VP to handle upcoming wage negotiations with the U.A.Dubbya.
[Source: Reuters]
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