As the Obama administration’s April 30th deadline for a revised viability plan approaches, Chrysler is considering a shakeup in its top management, including the possibility of appointing Fiat CEO Sergio Marchionne as the new head of Chrysler. President Obama gave Chrysler 30-days to partner with Fiat or face possible bankruptcy.
According to Automotive News, talks have begun of supplanting several Chrysler execs with new blood from Fiat, including the company’s top position. Chrysler’s new viability plan also reportedly includes the election of seven new board members, with spots reserved for Fiat representatives and members of the President’s auto task force.
Bob Nardelli has held the position of Chrysler CEO since 2007, but could be forced into another position to make room for Marchionne. A person familiar with the negotiations revealed Chrysler is considering a power split, with one executive acting as CEO and the other as company chairman. If that happens, Nardelli could be retained as chairman.
Several hurdles still remain before Chrysler and Fiat officially announce a strategic alliance, but it looks as though a deal will be hammered out by the end of the month. However, if Chrysler can’t reach agreements with former owner Daimler and the UAW, the company could still be forced into bankruptcy.
