Cerberus taps Nardelli to run Chrysler

Cerberus Capital Management on Monday named former Home Depot Inc. Chief Executive Robert Nardelli as chairman and chief executive of Chrysler LLC in an executive shake-up just after the private equity firm completed a deal to acquire the struggling No. 3 U.S. automaker.

Chrysler's current chief executive, Tom LaSorda, will stay on as president and vice-chairman and continue to lead ongoing talks with the United Auto Workers union as the automaker's No. 2 executive and a consultant to Cerberus.

In a further shake-up, Chrysler's current chief operating officer, Eric Ridenour, will leave and his post responsible for production and product planning will not be filled.

Read Full Article from Reuters.uk

- Posted: 2007-08-06 09:05:40

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