BREAKING: Former Home Depot chief Bob Nardelli to be Chrysler's new CEO
Filed under: Chrysler
That Wolfgang rumor? It appears that we can file it under "not accurate." The new chief executive of Chrysler LLC will not be the former wunderkind. Instead, former Home Depot CEO Robert Nardelli will assume the top spot in Auburn Hills, according to reports in both the New York Times and Wall Street Journal. Chosen by Cerberus because of his turnaround expertise, Nardelli will reportedly receive a performance-based compensation package, i.e. if the company doesn't show improvement, he won't be paid.

Mr. Nardelli left Home Depot in January after developing a strained relationship with shareholders over his compensation package and the company's stock price. However you look at it, the appointment comes as a surprise. The New York Times reports that current Chrysler chief Tom LaSorda will assume the role of vice-chairman and president. The Wall Street Journal is also reporting that current Chrysler COO, Eric Ridenour, will likely depart the company.

No official word from Chrysler yet, but we assume that's coming soon.

[Sources: New York Times, Wall Street Journal via Jalopnik]

 

I don't like this.
If I recall correctly, I read that home depot used to be known for good customer service, but they said that went away after this guy took over. And now Home Depot has developed a reputation for using home repair contractors that do very bad work and customers are outraged.
I have a feeling that this guy will care more about squeezing every penny of profit at Chrysler at the expense of customer satisfaction.
I want someone who cares about making products that people love and is very in-touch with what the target customers want.
He doesn't seem like that kind of guy.

 

CEO's get paid to make a company profitable, bottom line. Love has nothing to do with it!!