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more on the topic from San Antonio Express-News, 9-7-07:

Chrysler pulls coup on Toyota

U.S. firm lures away president
of North American component

SEAN M. WOOD
EXPRESS-NEWS BUSINESS WRITER
The automobile industry was reeling Thursday morning with the news that Toyota Motors North American President Jim Press had defected to Chrysler LLC.
“It came as a total shock,” said Michelle Krebs, editor of Edmunds AutoObserver.com. “It's a coup for Chrysler.”
Press was the highest-ranking non-Japanese executive at Toyota Motor Corp.
In June, Toyota shareholders elected him to the board of directors, making him the first non-Japanese person to hold a seat on the board.
His departure comes after 37 years with Toyota.
“He wasn't going any further at Toyota,” said George Magliano, auto industry analyst for Global Insight Inc. “He wasn't going to run Toyota. They put him on the board. That was a tribute to his talent and how he was respected there.”
Press becomes vice chairman of Chrysler LLC and will share the presidency with Tom LaSorda.
LaSorda will run the operations, while Press will head up marketing. Both will report directly to Chairman Robert Nardelli.
“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,” Press said in a statement. “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.”
Across the industry, analysts praised the move by Chrysler's parent, Cerberus Capital Management. Cerberus bought the automaker from Daimler this summer.
There were concerns that Nardelli, the former chief executive of Home Depot, would cut Chrysler to the bone in preparation for a quick sale by Cerberus.
“I think it's a great move,” Magliano said. “It's a terrific move on Cerberus and Chrysler's part. I think it really sends out a terrific message. People were saying when they brought Nardelli in there, ‘He's not an auto guy.' Cerberus said, ‘We've got some good people and whatever we need we'll go out and get.'.”
Chrysler officials aren't talking about what it took to get Press away from Toyota. Analysts know Cerberus had to pay a hefty sum to get him to leave. But there had to be more than money involved, said Jack Nerad, senior market analyst and editorial director of Kelley Blue Book.
Aside from a “wheelbarrow full of money,” Press now has the chance to get back into the automotive marketing fray, Nerad said.
“Jim loves the dealer interaction,” he said. “He loves to be a major player. He advanced to the point where he wasn't operationally involved.”
Press joined Toyota in 1970 and worked his way through the ranks to head Toyota Motors North America. Before that he was the head of Toyota Motor Sales USA and was key in pumping up the sales and marketing of the redesigned Toyota Tundra built in San Antonio. He made numerous trips to Texas before its launch.
Press also is credited with developing a strong dealer base for Toyota during its quest to be the world's largest automaker.
“The dealers are an important asset to us for what the customers want,” Toyota Motor Sales USA spokesman Mike Michels said. Press “developed an exceptional positive relationship with our dealer bodies. He spent a lot of time listening to what our dealers tell us and customers tell us.”
Chrysler desperately needs to repair its relationship with dealers. An oversupply of vehicles last year put dealerships and the automaker at odds.
“We got a little bit in the soup with our dealers in the middle of last year,” Chrysler spokesman Mike Aberlich said. “He has a good reputation with dealers. They are at the front line, and Toyota is always at the top of the charts with its dealers.”
Feedback from Chrysler dealers was starting to come into the automaker's Detroit offices Thursday afternoon, and it was overwhelm