Despite publicly expressing their confidence in Tom Lasorda as Chryslers CEO Cerebrus announces a change of leadership on the first week of ownership. The new manÂ at the top of the Chrysler corporate structure is Robert Nardelli who is the former CEO of The Home Depot. Former CEO Tom Lasorda will be assigned the President of Chrysler and will preside under the leadership of Nardelli.
Nardelli, who will serve as both CEO and Chairman of the Board for Chrysler, will be taking on the task of improving Chryslers market share here in America while seeking out their introduction into foreign markets. After having served as CEO for General Electric and Home Depot, Cerebrus executives are hoping that Nardelli will be able to look at Chryslers future with “new eyes.”
To find a similar strategy in highering an outsider to the Auto Industry as a CEO Cerebrus did not have to look far. Ford took the same approach when Bill Ford stepped aside as CEO and brought in Allan Mullarky. As CEO of Boeing Co. Mullarky was instrumental in turning the company around from Bankruptcy. The task of restructuring Ford back into profitability is now on Mullarky’s shoulders and with some promising second quarter numbers it seems they are at least making progress.
Despite the change at the top of Chrysler the role of Tom Lasorda will not be diminished. Lasorda will be leading Chryslers efforts in the labor negotiations with the UAW,Â director of Chrysler LLC’s 11-member boardÂ and also serve as vice chairman of the Cerberus Operating and Advisory Company LLC.
Time will tell if Nardelli is the right man for the job and hopefully Cerebrus has the patience to give Nardelli the time it will take.