<![CDATA[Jalopnik: Bob Nardelli]]> http://cache.gawker.com/assets/base/img/thumbs140x140/jalopnik.com.png <![CDATA[Jalopnik: Bob Nardelli]]> http://jalopnik.com/tag/bob nardelli http://jalopnik.com/tag/bob nardelli <![CDATA[ How Do The Chrysler Hybrids Match The Volt's EV Range? ]]> When Chrysler dropped its bevy of extended-range electric vehicles in our laps today as part of the company's new ENVI program, we wondered how coincidental it was that Chrysler was claiming the same all-electric range as the much ballyhooed Chevy Volt. The Volt makes concessions to seating and obsessively maximizes aerodynamics to get its 40 mile range, but the Chrysler EV and the Jeep EV both claim 40 miles as well. No funny-shaped center consoles, no wacky aero-trickery, just batteries and electric motors. So what's the deal? Not surprisingly, it's mainly the batteries that make the difference here.

Battery storage capacity is measured in watt-hours, more or less the total amount of energy used over time. A kilowatt-hour (kWh) is simply a thousand watt-hours and this is what's used to measure big batteries, the kind used in modern hybrids.The Chevy Volt uses a 16 kWh battery and only really functions within a range of 50-80% charge in order to extend battery life.

In the figures Chrysler published to go along with the Chrysler EV, the hybridized minivan is equipped with a 22 kWh lithium-ion battery which operates at 200 kW and up to 410 volts — considerably larger than the electric fuel tank in the Volt. The big battery gets it to the 40-mile range, but the exciting part is the electric motor. Clocking in at 268 HP with a whopping 480 lb-ft of torque, the minivan will hustle to sixty in a silly 8.7 seconds. Keep in mind these are Chrysler numbers on an as-yet not approved for production vehicle, so take them all with a grain of salt.

The Jeep EV, in comparison, holds a massive 27 kWh; since the Wrangler has the aerodynamics of a brick and its system powers all four wheels, the bigger battery is necessary when compared to the minivan in order to hit 40 miles of EV range. To be honest, we're a bit perplexed by the choice of motor to compliment that monster battery. The Jeep keeps the same 268 HP, but for some reason torque comes in at a considerably less impressive 295 lb-ft. Zero to 60 takes around nine seconds, but still, we'd be more interested in that huge 480 lb-ft of torque from the minivan in the Jeep.

In any case, the reason the Chryslers match the Volt in range is that they're great big platforms with plenty of room for great big batteries. If either of the two actually hit production it would be a huge deal, and given the amount of development work that seems to have gone into the ENVI system so far, it would be shocking if a hybridized something didn't come out of the program. [Information from Chrysler.com]

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Tue, 23 Sep 2008 16:40:00 EDT Ben Wojdyla http://jalopnik.com/index.php?op=postcommentfeed&postId=5053788&view=rss&microfeed=true
<![CDATA[ Chrysler EV Range-Extended Electric Minivan Gets Real Non-CNBC Reveal ]]> The next-generation power train blitz from Chrysler continues following the unveil of the Dodge EV with the Chrysler EV, a Chrysler Town & Country equipped as a Range-Extended Electric Vehicle (REEV). Following GM's lead with the Chevy Volt, the Chrysler EV promises the same 40 miles on all-electric power followed by a recharge from an on-board generator (ie: a two-cylinder gas engine). Considering the packaging advantages for batteries available with a big van, the claims seem almost easy to hit in comparison to similar claims from the Volt. Among today's unveils, the electrified minivan seems like the killer-app here, with the possibility of pollution-free kid hauling and a claimed 400 miles on eight gallons of gas (50 MPG!). Stay tuned for more as Chrysler continues to work out how to do this whole "PR thing." Update: We finally wrestled details out of Chrysler. Check below for the press release

Hat tip to Popular Mechanics on the live pictures from the Chrysler EV reveal!

Auburn Hills, Mich., Sep 23, 2008 - Actions speak louder than words.

Chrysler LLC announced today that the Company and its ENVI organization have new production-intent, advanced electric-drive technology packaged in three different vehicles – one for each of its brands, Chrysler, Jeep® and Dodge.

Chrysler will select one electric-drive model to be produced in 2010 for consumers in North American markets, and European markets after 2010. Additionally, approximately 100 Chrysler electric vehicles will be on the road in government, business, utility and Chrysler development fleets in 2009.

The Company said that it is well into the development of advanced, production-intent electric vehicles, and that it will apply electric-drive technology to its front-wheel-drive, rear-wheel-drive and body-on-frame four-wheel-drive platforms in the next several years.

At its World Headquarters here today, Chrysler revealed its electric-drive prototypes – Dodge EV, Jeep EV and Chrysler EV – and demonstrated the driving performance and capability of each.

“We have a social responsibility to our consumers to deliver environmentally friendly, fuel-efficient, advanced electric vehicles, and our intention is to meet that responsibility quickly and more broadly than any other automobile manufacturer,” said Bob Nardelli, Chairman and CEO – Chrysler LLC. “The introduction of the Chrysler, Jeep and Dodge electric vehicles provides a glimpse of the very near future, and demonstrates that we are serious and well along in the development of bringing electric vehicles to market.”

ENVI Organization
The development of Chrysler’s Electric Vehicles and Range-extended Electric Vehicles is led by ENVI – representing the first four letters of “environmental” – the Company’s in-house organization that was formed to focus on electric-drive production vehicles and related advanced technologies. The development of electric-drive systems for future Chrysler, Jeep and Dodge vehicles is maturing quickly.

“ENVI was created just over one year ago with the strategic intent to develop electric-drive vehicles quickly for Chrysler, and it is surpassing expectations,” said Tom LaSorda, Vice Chairman and President – Chrysler LLC. “With ENVI, Chrysler is developing technology to bring Electric Vehicles and extremely fuel-efficient Range-extended Electric Vehicles to market.”

Electric Vehicle Technology
Chrysler’s Electric Vehicles utilize just three primary components. These include an electric motor to drive the wheels, an advanced lithium-ion battery system to power the electric-drive motor and a controller that manages energy flow. The electric-drive system is being developed for front-wheel-drive, rear-wheel-drive, and body-on-frame four-wheel-drive vehicle applications.

“This technology provides customers with a vehicle that has zero tailpipe emissions and a 150- to 200-mile driving range – far exceeding most Americans’ daily commutes, as nearly 80 percent of Americans drive less than 40 miles per day, or 14,000 miles per year,” said Frank Klegon, Executive Vice President – Product Development, Chrysler LLC. “Electric Vehicles provide the opportunity to fulfill social responsibility, reduce dependency on foreign oil, and eliminate monthly gasoline bills, while delivering performance and utility that our customers desire.”

Range-extended Electric Vehicle Technology
The Range-extended Electric Vehicle combines the electric-drive components of the Electric Vehicle with a small gasoline engine and integrated electric generator to produce additional energy to power the electric-drive system when needed. This provides the positive attributes of an Electric Vehicle with the driving range equivalent to today’s gasoline-powered vehicles – with no compromises in performance.

Range-extended Electric Vehicles offer environmental responsibility without giving up driving range, comfort or utility.

Chrysler EV
The Chrysler EV development vehicle is a Range-extended Electric Vehicle that demonstrates another possible application of ENVI electric-drive technology in the segment-leading Chrysler Town & Country minivan.

“With the Chrysler EV, we are able to blend seven-passenger capability and the luxury of the Chrysler Town & Country minivan with electric-drive technology, demonstrating family practicality with zero compromise,” said Rhodes. “ENVI’s electric-drive development vehicles showcase our accelerated application of electric-drive systems into a wide range of vehicles in Chrysler’s future product portfolio.”

The Chrysler EV combines the electric-drive components of an Electric Vehicle with an integrated small-displacement engine and generator to produce additional electricity to power the electric-drive system when needed. This provides all of the positive attributes of an Electric Vehicle and extends the driving range to be equivalent to today’s gasoline-powered vehicles – without compromises.

The Chrysler EV uses a 190 kW (255 horsepower) motor, producing 350 N•m (258 lb.-ft.) of torque, providing 0 to 60 mph acceleration in approximately nine seconds. The Chrysler EV Range-extended Electric Vehicle can drive 40 miles on all-electric power, and boasts a range of 400 miles on approximately eight gallons of gasoline. This makes the Chrysler EV the perfect fuel-efficient family vehicle.

The knowledge and experience gained from the Chrysler EV will be applied to other front-wheel-drive applications in Chrysler’s portfolio.

Chrysler LLC Electric-vehicle Consumer Web Site
Chrysler LLC has launched a Web site – www.Chryslergoeselectric.com – to allow consumers to view the latest updates on Electric Vehicles and Range-extended Electric Vehicles from the Company. Content will include videos, photography and news, and visitors can sign up for updates. In addition, the site features a blog where consumers can interact directly with the Company.

Department of Energy Cooperative Agreement
Chrysler and General Electric are jointly pursuing a project with the United States Department of Energy to explore advanced energy-storage technology.

“Chrysler’s partnership with General Electric combines the electric-drive technology demonstrated in the Chrysler Electric Vehicles, with GE’s research and development of advanced energy storage systems,” said Klegon. “Our collective goal working with the DOE is to develop a new, integrated energy-storage system to make electric vehicle battery packs smaller and significantly less expensive than current designs.”

Chrysler and GE will develop and evaluate dual-battery solutions based on GE’s unique technology.

“One of the challenges with electric vehicles is finding a battery with the correct balance between power – for example, during vehicle acceleration – and energy for long driving range,” said Klegon. “We believe that combining two unique battery chemistries – one biased toward power and the other toward energy – into a single battery pack is very promising for a future Chrysler Electric Vehicle.”

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Tue, 23 Sep 2008 12:30:00 EDT Ben Wojdyla http://jalopnik.com/index.php?op=postcommentfeed&postId=5053623&view=rss&microfeed=true
<![CDATA[ Chrysler Discloses $515 Million First-Quarter Loss ]]> Chrysler LLC revealed a $515 million first-quarter 2008 loss, despite the fact that the privately held firm isn't required to discuss earnings. So what gives? Ex-lover Daimler spilled the beans Thursday, stating that its 20% stake in Chrysler lost about $105 million in value. The Detroit News did some quick math, multiplying Daimler's loss by five, and a Chrysler spokesperson eventually confirmed that the number was in the half-a-billon dollar neighborhood.

Jalopnik Snap Judgment: A little more math, based on the fact that Chrysler really has nothing besides the Ram truck coming out this year, tells us Chrysler is on track for a $2-billion-plus loss for the year, breaking their previous record of $1.6 billion. As Rebecca Lindland, auto analyst at Global Insight, said, "From a product perspective, you can't point to a light at the end of the tunnel." Ouch. So Chrysler's survival will depend upon how deep owner Halliburton Cerberus Capital Management's pockets are. Or how quick they can sell it off. [Detroit News]

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Fri, 25 Jul 2008 09:30:00 EDT Andrew Stoy http://jalopnik.com/index.php?op=postcommentfeed&postId=399238&view=rss&microfeed=true
<![CDATA[ Iacocca Arrives At Chrysler As Bankruptcy Rumors Swirl; Time Travel Perfected ]]> Iacocca-Chrysler-Bankruptcy.jpgFormer chairman Lee Iacocca gave a closed pep rally to Chrysler employees yesterday in Auburn Hills, once again sharing the stage with a K-car, a minivan...and rumors of Chrysler's imminent bankruptcy. While current CEO Bob Nardelli was praising Iacocca as "Chrysler's most dynamic leader" and "a great American," Chrysler spokesman David Elshoff was telling reporters that rumblings about a forthcoming bankruptcy filing by the automaker were "without merit." Presumably addressing the present state of the industry, Iacocca said, "We'll live through it. Don't panic. Things are going to be OK." To fix the current management problems, Iacocca suggested outfitting Nardelli with wire wheel covers and a vinyl landau roof, then sending him back into the boardroom and hoping everyone would think he was a totally new CEO.

The bankruptcy rumors seem to have sprung from reports this week that Chrysler drew down on a line of credit from Daimler. However, under Cerberus' purchase terms, Chrysler had to exercise the credit line before Aug. 3, so there's a "use it or lose it" component to the whole financial story too. Chrysler spokespeople state that the borrowing of $1.5 billion from Daimler and $500 million from Cerberus is not an indication that the company is having cash flow problems, and that Chrysler has $9 billion in cash. Sure sounds good, but all the "categorical denials" and "without merits" pouring out of Auburn Hills don't do much to soothe the nerves.
[BusinessWeek]

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Fri, 27 Jun 2008 10:30:00 EDT Andrew Stoy http://jalopnik.com/index.php?op=postcommentfeed&postId=397277&view=rss&microfeed=true
<![CDATA[ GE Wants To Help Chrysler Bring Plug-In Hybrids To Life ]]> GE's looking to play with some new hybrid battery technology in the automotive space, so what better man for them to reach out to than former GE executive Bob "The Builder" Nardelli — the current CEO of Chrysler? That's exactly who the company all about the light bulbs and bringing good things to life is reaching out to. According to Automotive News GE's teaming up with Chrysler on a project to demonstrate a technology they're calling a "dual-battery energy storage system." What this one-time project means, after the jump.

Our take is that although a one-time team-up may be fun, GE's got a lot of expertise in batteries, drivetrains and power electronic controls — so the real fortunes and glory for Jeff Immelt's mega-company will come from being able to pivot this one-time project into a contract for supplying components for plug-in hybrid vehicles. But regardless of what company provides the technology, one thing that's clear is it took Chrysler much too long to start working on plug-in hybrid tech. At this rate they should have product hitting the street at about the same time as we start using plutonium to power SUVs. [via Automotive News (sub. req.)]

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Fri, 13 Jun 2008 08:40:00 EDT Ray Wert http://jalopnik.com/index.php?op=postcommentfeed&postId=396054&view=rss&microfeed=true
<![CDATA[ Nardelli: Cerberus Not Second-Guessing Chrysler Purchase. What About CEO Choice? ]]> Cerberus Capital Management is not second-guessing its 2007 purchase of Chrysler from Daimler, and the the business is "on track," Chrysler LLC CEO Robert Nardelli said Tuesday at a Wall Street Journal press conference. Nardelli has been facing speculation that Cerberus got in over its head with the Chrysler purchase, particularly in light of U.S. sales that are down 25.4 percent in May and 19.3 percent for the year to-date compared with the same period a year ago. We suspect Cerberus is speculating that Nardelli got in over his head when he took the top spot.

Not surprisingly, Nardelli said that Chrysler might have to "go back and resize" production plans. He also reiterated his expectation that Chrysler would remain a private company, explaining that there were clear advantages to running Chrysler under private equity ownership rather than as a public company. For example, not having to tell reporters a damn thing except, "we are guarded but optimistic. We are very encouraged in what we have accomplished." Which would be what, exactly?
[Automotive News (Sub. Req.), Photo Credit: Bill Pugliano/Getty Images]

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Thu, 12 Jun 2008 13:20:00 EDT Andrew Stoy http://jalopnik.com/index.php?op=postcommentfeed&postId=395920&view=rss&microfeed=true
<![CDATA[ 2008 Dodge Challenger SRT8, Reviewed ]]> While Dodge won't even return our phone calls (something to do with this as well as insinuating Bob "The Builder" Nardelli tried to change the name of Home Depot to Home Despot), our friends at the magazine that finds being Popular just as important as being Mechanics did get a chance to drive the Ram-headed brand's new muscular pony car — the 2008 Dodge Challenger SRT8. The gist of what they had to say, below the jump:

PM-snipe-2.jpg

"This Hemi is most definitely not shy or watered down. But what surprised us the most about the Challenger SRT8 was its civility. Power is abundant, but never to the point that we couldn't rein her in. Our two-hour highway drive home from Willow Springs was quiet and smooth—characteristics more akin to a grand touring car than a muscle car. The only things we miss are a more vocal exhaust note and a manual gearbox, the latter of which will be available in the fall of 2009. "
So the Hemi's neither shy or watered down. Seems to us like it fits in quite well with that whole "delightfully tacky, yet unrefined" Hooters-like mentality of folks looking to buy this new pony express from Dodge. But most importantly for the Mechanics-inclined Popular party stars was their bottom line:
"After flogging the 2008 SRT8 on the track and driving home in insulated comfort, we can safely say that the Challenger ain't what it used to be—it's a whole lot better."
So it may not have the horsepower of the GT500KR, but apparently what it's lacking in get-up-and-go, it more than makes up for with beefcake and a buff bod. Perfect for Woodward Avenue cruising if you ask us. [via Popular Mechanics] ]]>
Wed, 30 Apr 2008 00:01:00 EDT Matt Hardigree http://jalopnik.com/index.php?op=postcommentfeed&postId=385437&view=rss&microfeed=true
<![CDATA[ Nardelli: Chrysler to Create "Skunk Works" for Mid-Size Vehicle Development ]]> Who knew Chrysler would drop so far in the mid-size market that new CEO Bob Nardelli would find it necessary to create a "skunk works" team comprising every piece of the vehicle development process in order to come up with the company's next-generation mid-size vehicles. Apparently the Sebring wasn't quite the bee's knees. Who knew?

Nardelli, speaking at the Automotive News World Congress, would not say what the vehicle would be but Chrysler is already introducing the Dodge Journey, a mid-size vehicle, to world markets this year. Bob "The Builder" Nardelli also announced the new midsize team will be headed by Michael Donoughe, who has recently been vice president of body on frame and core team leader of product development. Here's to hoping Donoughe's next vehicle is more of a looker than the Journey. [Automotive News]

Photo Credit: Bill Pugliano / Getty Images News

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Wed, 23 Jan 2008 06:45:00 EST Ray Wert http://jalopnik.com/index.php?op=postcommentfeed&postId=347886&view=rss&microfeed=true
<![CDATA[ Chrysler Set To Drop The Ax on Pacifica, PT Cruiser, Dodge Magnum ]]> Chrysler_Pacifica.jpg Chrysler is expected to kill off its Pacifica, PT Cruiser and Dodge Magnum at some kind of a board meeting today. With sales of all those models dropping by nearly 30 percent this year, there's not much left to kill, but fates will be decided at the first board meeting with former Home Depot CEO Bob Nardelli as chairman. With sales sliding 23 percent this year, Jeep's full-size Commander is also at risk as a possible fourth model to be chopped. CEO and chairman Nardelli, along with vice chairman and chief product strategist Jim Press are looking to trim Chrysler's operations through a smaller line-up and smaller workforce. [The Detroit News]

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Tue, 30 Oct 2007 11:00:00 EDT tingwall http://jalopnik.com/index.php?op=postcommentfeed&postId=316696&view=rss&microfeed=true
<![CDATA[ BREAKING! Jim Press Leaves Toyota, Takes Vice-Chairman Seat at Chrysler! ]]> 1336343126_079ab190b7_o.jpgChrysler's just announced that joining Bob Nardelli at "The New Chrysler" will be none other than Jim Press, who up until today was President and Chief Operating Officer of Toyota North America and the token 'merican on the Toyota board of directors. He'll be filling the slot of vice chairman. We're stunned like deer in the headlights of an oncoming four-door Jeep Wrangler with an optional roof light bar on this one. We don't even have anything funny to say — we're just that flabbergasted. The only thing we're wondering is how much money they offered Press to run the show over there. Full press release on Press below the jump.

Chairman and CEO Robert L. Nardelli teams former Toyota chief With Vice Chairman and President Thomas W. LaSorda "World-class supply and demand leaders" Joins Nardelli and LaSorda in new Office of the Chairman and On Board of Directors of Chrysler LLC Press to run North American Sales, International Sales, Global Marketing, Product Strategy, and Service and Parts September 6, 2007AUBURN HILLS, MICH. - Chrysler LLC Chairman and CEO Robert Nardelli today announced the appointment of James Press as Vice Chairman and President. Press, who was President and Chief Operating Officer of Toyota Motors in North America Inc. and a Director of the parent company, will now be responsible for North American Sales, International Sales, Global Marketing, Product Strategy, and Service and Parts for Chrysler LLC. "Tom LaSorda and I are thrilled that one of the most successful executives in the history of the auto industry has joined our leadership team at the New Chrysler," said Nardelli. "Our top team now consists of a world-class 'supply' leader in Tom and an equally world-class 'demand' leader in Jim."

"I've known Jim for many years and know that he will hit the ground sprinting," said LaSorda. "I look forward to partnering with him and Bob as part of the Office of the Chairman."

Press joins LaSorda as a Vice Chairman and President, reporting to Nardelli. LaSorda's responsibilities will continue to include Manufacturing, Procurement and Supply, Employee Relations and Global Business Development and Alliances.

"I am grateful for the support and opportunities I received during my three-plus decades at Toyota," said Press. "I relish this new opportunity with the Chrysler team to be a part of the resurgence of a true American icon here and around the world. Part of my new responsibilities will be strengthening and energizing the dealer body. This is something I was passionate about at Toyota and will be passionate about at Chrysler."

Press joins Chrysler after 37 years with Toyota, where he most recently served as the first non-Japanese President of Toyota Motor North America Inc., responsible for sales, engineering and the company's 15 manufacturing plants with 41,000 employees in North America. He was also the first non-Japanese executive selected to the Board of Directors of Toyota Motor Corporation.

During his tenure at Toyota, the company grew from an upstart new company selling 100,000 vehicles per year to the second largest auto company in the United States.

Press becomes a member of the Chrysler LLC Board of Directors and the Board of Managers of Cerberus Operations and Advisory Co. (COAC), LLC. Press joins LaSorda as Vice Chairman of COAC.

- # # # -

Chrysler LLC, headquartered in Auburn Hills, Mich., produces Chrysler, Jeep®, Dodge and Mopar® brand vehicles and products. Total sales worldwide in 2006 were 2.7 million vehicles. Sales outside of North America were the highest in a decade with an increase of 15 percent over 2005. On the heels of the company's record product launch year (Chrysler launched 10 all-new vehicles in 2006), the company plans to extend that streak with eight all-new products in 2007. Its product lineup features some of the world's most recognizable vehicles, including the Chrysler 300, Jeep Commander and Dodge Charger. The Chrysler Foundation, the company's philanthropic arm, gave $23.6 million in grants in 2006. Chrysler is a unit of Cerberus Capital Management.


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Thu, 06 Sep 2007 09:31:44 EDT Mike Spinelli http://jalopnik.com/index.php?op=postcommentfeed&postId=296940&view=rss&microfeed=true
<![CDATA[ Quality is job one at..."The New Chrysler?" ... ]]> Quality is job one at..."The New Chrysler?" [Detroit News]

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Thu, 30 Aug 2007 14:00:00 EDT Ray Wert http://jalopnik.com/index.php?op=postcommentfeed&postId=295216&view=rss&microfeed=true
<![CDATA[ Save Mopar! ]]> After we learned this morning that part of putting "The New" into "The New Chrysler" includes potentially killing the Mopar performance parts unit, we've decided to stand up for Mopar-lovin' auto enthusiasts everywhere to start a campaign to "Save Mopar!" First things first — we need a graphic of some sort. We mean, come on, it's not a real campaign unless it's got a graphic. How's the above one look? It's good? So — umm, we've got a graphic and so, umm — what's next?

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Wed, 29 Aug 2007 09:30:00 EDT Ray Wert http://jalopnik.com/index.php?op=postcommentfeed&postId=294545&view=rss&microfeed=true
<![CDATA[ The Prowlers of the Woodward Dream Cruise ]]> The Chrysler folks had a tenth anniversary party for their Prowler retro-rod this week to coincide with the Woodward Dream Cruise, and so there were a great many of them on Woodward Avenue for the cruise. While we're unsure if new CEO of "The New Chrysler," Bob Nardelli made it out to the main drag for the cruise, we know from the picture above he at least made it to the tenth anniversary celebration. Here's our quick gallery of a few Prowlers we caught prowlin' about Metro Detroit on Saturday.

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Mon, 20 Aug 2007 15:00:00 EDT Ray Wert http://jalopnik.com/index.php?op=postcommentfeed&postId=291371&view=rss&microfeed=true
<![CDATA[ So Bob Nardelli makes his first public appearance ... ]]> So Bob Nardelli makes his first public appearance in a car his company no longer makes from a brand that no longer exists. Sure, works for us. [Freep]

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Fri, 17 Aug 2007 06:30:00 EDT Ray Wert http://jalopnik.com/index.php?op=postcommentfeed&postId=290488&view=rss&microfeed=true
<![CDATA[ Chrysler CEO Bob Nardelli said ready to name ... ]]> Chrysler CEO Bob Nardelli said ready to name Lexus Marketing VP Deborah Meyer as its first CMO. [AdAge]

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Wed, 15 Aug 2007 14:15:00 EDT Ray Wert http://jalopnik.com/index.php?op=postcommentfeed&postId=289827&view=rss&microfeed=true
<![CDATA[ Proof that what we thought was true — ... ]]> Proof that what we thought was true — Chrysler officials didn't even know Robert Nardelli would be appointed. [NYT]

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Fri, 10 Aug 2007 07:45:00 EDT Ray Wert http://jalopnik.com/index.php?op=postcommentfeed&postId=288096&view=rss&microfeed=true
<![CDATA[ Aggressive reputation, yes. No auto experience, ... ]]> Aggressive reputation, yes. No auto experience, also yes. Welcome to the Nardelli era at the new 'merican Chrysler. [Detroit News]

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Mon, 06 Aug 2007 05:15:00 EDT Ray Wert http://jalopnik.com/index.php?op=postcommentfeed&postId=286228&view=rss&microfeed=true
<![CDATA[ It's A Chrysler Shocker! Former Home Depot CEO Bob Nardelli Named New CEO Of Chrysler ]]> It won't be Wolfgang Bernhard, and it won't be Tom LaSorda — we're hearing the new CEO of the newly independent Chrysler will be none other than ousted Home Depot CEO Bob Nardelli. More coming shortly — this stuff is hot off the wires, kids! Updates, including the full press release, below the jump.[NYT]

UPDATE: It looks like COO Eric Ridenour will probably be leaving the company. Also, Nardelli will be making his money through some weird not-normal executive way — via pay-per-performance.

Shoot, we forgot to post the press release earlier:

CONFIDENTIAL DRAFT August 5, 2007 6:00PM

NOT FOR IMMEDIATE RELEASE

CHRYSLER ANNOUNCES LEADERSHIP CHANGES

Bob Nardelli Appointed as Chairman and CEO; Tom LaSorda to Continue
with Chrysler as Vice-Chairman and President

NEW YORK, August 6, 2007 - Chrysler LLC today announced that its Board
of Directors has appointed Bob Nardelli as Chairman and CEO of
Chrysler LLC. The Board also announced that Tom LaSorda has been
appointed Vice-Chairman and President of Chrysler LLC, reporting to
Nardelli.

"We are excited to welcome Bob to the Chrysler family," said LaSorda.
"Bob has a proven track record of success and an unwavering focus on
performance, and brings deep operational experience and a broad
industry background to Chrysler. His background in operations will
provide valuable knowledge as we continue Chrysler's turnaround."

"I am very excited to be part of a team focused on re-establishing
Chrysler as a standalone industry leader, with a renewed focus on
meeting the needs of customers," said Nardelli. "Chrysler has many
deeply talented and dedicated people, and I am confident that together
we can continue the momentum of Chrysler's recovery and return this
great American icon to a path for global growth and competitiveness."

In addition, Eric Ridenour, Chief Operating Officer, has elected to
leave the new company to pursue other opportunities. The COO position
will not be filled going forward. "Eric gave this company 23 years of
great service and leadership," said LaSorda. "We wish him well in his
new pursuits."

Concurrent with the close of the Chrysler transaction on August 3,
2007, the new Board of Directors of Chrysler LLC was formed. It
consists of 11 members, including Nardelli, LaSorda, representatives
of Cerberus and Daimler, and independent directors.

Cerberus and Chrysler would like to thank Wolfgang Bernhard for his
contributions leading to the closing of this transaction. Both
Cerberus and Chrysler had looked forward to his continuing
contributions as non-executive chairman of Chrysler, however due to
personal and family reasons he was not able to accept that role.

Cerberus has also asked, and Tom LaSorda has agreed, to serve as the
Vice-Chairman of Cerberus Operating and Advisory Company LLC (COAC),
Cerberus' proprietary operations advisory affiliate. In that role,
Mr. LaSorda will assist in the continuing development of COAC, which
works closely with the portfolio companies in which the funds and
accounts managed by Cerberus are invested.

Prior to joining Chrysler, Nardelli served as Chairman, President and
CEO of The Home Depot beginning in 2000. During his tenure at The
Home Depot he doubled sales as well as the number of store operations;
moved globally into Mexico and China; and delivered more than 20
percent earnings-per-share growth for four consecutive years while
growing dividends from 16 cents to 90 cents per share. Nardelli also
has extensive senior operations experience in manufacturing and
transportation systems.

Nardelli received his bachelor's degree in business from Western
Illinois University and earned a Master of Business Administration
from the University of Louisville.

Nardelli, an Atlanta resident, chairs the Atlanta Board of Visitors of
the Savannah College of Art and Design and has also served on
President Bush's Council on Service and Civic Participation. He has
also chaired the advisory board for the nonprofit group Hands on
Network and strongly supported KaBoom!, a national nonprofit
organization building community playgrounds. Nardelli has received
numerous awards for his strong support of military veterans, and
received the Distinguished Pennsylvanian Award from Gannon University
(1995) and the Distinguished Alumni Award from the College of Business
and Technology at Western Illinois University (1997 and 1999). He is
an alumni fellow and 2001 Alumnus of the Year of the University of
Louisville, and serves on the National Visiting Committee Advisory
Board, University of Louisville Graduate School of Business.

About Chrysler LLC

Chrysler LLC, headquartered in Auburn Hills, Michigan, produces
Chrysler, Jeep(r), Dodge and Mopar(r) brand vehicles and products.
Total sales worldwide in 2006 were 2.7 million vehicles. Sales outside
of North America were the highest in a decade with an increase of 15
percent over 2005. On the heels of the company's record product launch
year (Chrysler launched 10 all-new vehicles in 2006), the company
plans to extend that streak with eight all-new products in 2007. Its
product lineup features some of the world's most recognizable
vehicles, including the Chrysler 300, Jeep Commander and Dodge
Charger. The Chrysler Foundation, the company's philanthropic arm,
gave $23.6 million in grants in 2006.

About Cerberus Capital Management, L.P.

Established in 1992, Cerberus Capital Management, L.P. is one of the
world's leading private investment firms with approximately $26
billion under management in funds and accounts. Through its team of
more than 275 investment and operations professionals, Cerberus
specializes in providing both financial resources and operational
expertise to help transform undervalued companies into industry
leaders for long-term success and value creation. Cerberus is
headquartered in New York City, with affiliate and/or advisory offices
in Atlanta, Chicago, Los Angeles, London, Baarn, Frankfurt, Hong Kong,
Tokyo, Osaka, and Taipei. More information on Cerberus can be found
at www.cerberuscapital.com.

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Sun, 05 Aug 2007 22:22:53 EDT Ray Wert http://jalopnik.com/index.php?op=postcommentfeed&postId=286201&view=rss&microfeed=true