 New Sherriff in Town, Ex-Home Depot CEO to Run Chrysler |
Chrysler Group announced last night that former Home Depot head-honcho Bob Nardelli has been selected to lead Chrysler Group. Former Chrysler Group CEO Tom Lasorda has accepted a position as the number two man.
From news.iWon.com:
Chrysler's new private owners say they have picked former Home Depot boss Bob Nardelli to head the No. 3 U.S. automaker in its effort to return to financial health.
The board of the reorganized Chrysler LLC elected Nardelli as chairman and chief executive, the company said in a news release Sunday night.
Nardelli, who became chief executive of The Home Depot Inc. in 2000, resigned abruptly in January after criticism over his pay and the company's slumping share price.
"Chrysler has many deeply talented and dedicated people, and I am confident that together we can continue the momentum of Chrysler's recovery," Nardelli said in the statement.
Former Chrysler executive Wolfgang Bernhard, a senior adviser to Cerberus, had been widely expected to be named chairman. He was offered a position with the company but elected not to accept it.
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| jpsmith | Posted: 2007/8/7 12:35 Updated: 2007/8/7 12:35 |
Just can't stay away   Joined: 2006/7/25 From: Posts: 88 |
 Re: New Sherriff in Town, Ex-Home Depot CEO to Run Chryslerhttp://www.usatoday.com/money/autos/2007-08-06-chrysler-bob-nardelli_N.htm?csp=1
"This is a ludicrous choice," says Jeffrey Sonnenfeld of the Yale School of Management. "He's going for obedience and execution. That's not the auto industry of Carlos Ghosn." Ghosn rescued a nearly bankrupt Nissan by building a consensus within the Japanese company that it needed radical surgery. "Nardelli's the poster child of poor workforce relations," Sonnenfeld says. |
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| jason | Posted: 2007/8/6 21:18 Updated: 2007/8/6 21:18 |
Just can't stay away Joined: 2005/6/30 From: glendale,az Posts: 91 |
Re: New Sherriff in Town, Ex-Home Depot CEO to Run Chrysler I'm worried that cutting costs will affect quality and the hopes of getting a CRD wrangler and Jeep truck are now fading......
Wolfgang would have been the perfect choics  |
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| MarkH | Posted: 2007/8/6 9:24 Updated: 2007/8/6 9:28 |
Home away from home  Joined: 2005/7/20 From: The Great White North Posts: 406 |
Re: New Sherriff in Town, Ex-Home Depot CEO to Run Chrysler Bob's Golden Handshake retirement/bonus from Home Depot was $210,000,000
 I assume he'll be working for free for Chrysler, because their bonuses are generally only 7 digits long...  |
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