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.