Nardelli to Leave Chrysler Once Bankruptcy Is Completed

By Staff Report

Apr. 30, 2009

Chrysler CEO Bob Nardelli says he will step aside after the company emerges from Chapter 11 bankruptcy.

“Now is an appropriate time to let others take the lead in the transformation of Chrysler with Fiat,” Nardelli said in a statement. “I will work closely with all of our stakeholders to see that this new company swiftly emerges with a successful closing of the alliance.”

The White House expects the bankruptcy case to take 30 to 60 days.

Nardelli came to Chrysler in August 2007 after Cerberus Capital Management took an 80.1 percent stake in the automaker. He has guided the company through negotiations with the United Auto Workers and the Department of Treasury auto task force. Chrysler has been surviving on a $4 billion Treasury loan.

Nardelli, who turns 61 on May 17, represented the company in congressional hearings late last year. He plans to return to Cerberus as an adviser. Before heading Chrysler, Nardelli spent six controversial years as CEO of Home Depot, finally receiving a $210 million severance package when he left the retail giant in January 2007.

David Kelleher, a Philadelphia Chrysler-Dodge-Jeep dealer, praised Nardelli and Chrysler’s management team.

“If people on top of the board hadn’t done the job they did in the last six months, we wouldn’t have a company,” Kelleher said.

A senior administration official praised “the incredible role of Chrysler management and CEO Bob Nardelli. He led the team to this place and really deserves recognition for what he did.”

Filed by Bradford Wernle of Automotive News, a sister publication of Workforce Management. To comment, e-mail

Workforce Management’s online news feed is now available via Twitter.

What’s New at

blog workforce

Come see what we’re building in the world of predictive employee scheduling, superior labor insights and next-gen employee apps. We’re on a mission to automate workforce management for hourly employees and bring productivity, optimization and engagement to the frontline.

Book a call
See the software

Related Articles

workforce blog

Staffing Management

Managing employee time-off requests: A guide for business owners

Summary Vacation, sick time, PTO banks, and unpaid leave are only a few forms of employee time off — Mo...

workforce blog


Labor analytics: A how-to guide for company leadership

Make sure to start small, clean your data, use data from a variety of sources and use desired business ...

data analytics, employee data, HR Tech, people analytics, talent management

workforce blog


Why tattleware isn’t the solution for underperforming teams

If your employees can take their smartphones out of their pockets to circumvent your efforts, how can y...

employee monitoring, HR technology, tattleware