Chrysler chief Bob Nardelli has announced he will step down from his position as company CEO once the automaker emerges from its Chapter 11 bankruptcy filing. Nardelli, 60, has held the position of Chrysler CEO since 2007.
Nardelli revealed the news earlier today on CNBC. Unlike former General Motors CEO Rick Wagoner, Nardelli said he was not asked to step down by the Obama administration, but rather made the decision on his own accord.
Confirming earlier reports, Nardelli said Fiat will appoint a new Chrysler CEO once the Michigan automaker emerges from bankruptcy. “This is the appropriate time to make the transition,†Nardelli said. The new Chrysler will consist of a nine person board – six members of the government’s choosing and three appointed by Fiat. A new chairman will be chosen from the nine-person panel, with Fiat’s members selecting a new CEO.
