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Ex Home Depot Chief Takes Chrysler Wheel

Nardelli tapped as CEO in takeover shake-up

By Heather McPherson, Newser User

Posted Aug 6, 2007 9:03 AM CDT

(Newser) – In a major shake up, Chrysler 's chief executive will be replaced by former Home Depot boss Bob Nardelli, the Wall Street Journal reports. An auto official called Nardelli a "real change agent" in an industry rocked by foreign competition. Nardelli is the second auto-industry neophyte to be named recently to head one of the "Big Three" car companies.

He left Home Depot earlier this year amid criticism over company performance during his tenure and his $210M compensation package. The shake-up follows the takeover of Chrysler by Cerberus Capital Management. Chrysler's former chief executive, Tom LaSorda will remain as president.

Chrysler Group CEO Tom LaSorda addresses the media during a news conference after opening the 2007 contract talks with the United Auto Workers at the Chrysler Group headquarters in Auburn Hills, Mich.,... (Associated Press)

Home Depot Chief Executive Bob Nardelli smiles during an Atlanta, Ga. interview in this Friday, Sept. 1, 2006 file photo. Newly private Chrysler LLP announced Sunday, Aug. 5,2007, that Nardelli would... (Associated Press)

P 500 companies to provide a full picture of executives' compensation - including stock options, bonuses and perks such as country club memberships. (AP Photo/Gene Blythe, file) (Associated Press)

Country minivans sits outside a Chrysler-Jeep agency in the east Denver suburb of Aurora, Colo., on Sunday, July 22, 2007. The Commerce Department said that orders for big-ticket manufactured products... (Associated Press)

The company logo shines off the grille of an unsold 2007 Aspen sports-utility vehicle outside a Chrysler-Jeep dealership on Nov. 26, 2006, in the east Denver suburb of Aurora, Colo. Private equity firm... (Associated Press)

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Ex Home Depot Chief Takes Chrysler Wheel

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Ex Home Depot Chief Takes Chrysler Wheel

Nardelli tapped as CEO in takeover shake-up

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OTHER STORIES ON OUR RADAR

Chrysler Shake-Up

Chrysler • Cerberus Capital Management • Robert Nardelli • Tom LaSorda • Eric Ridenour • auto industry

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Chrysler Roars to $225M Profit

Finishes first profitable year since its bankruptcy

Car Sales Jumped 14% Last Month

Chrysler, VW saw huge gains

Chrysler's Big News: We Repaid Bailout Loan

Announcement coming tomorrow at Michigan plant

Obama Should Campaign on Auto Bailout

Some Republicans were ready to let GM, Chrysler die: Jonathan Cohn

Chrysler Turns 1st Profit Since Bankruptcy

Revenue climbs 35% as Big Three return to profitablility

About Us

Site

Newser By Users

Community

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What is Newser?