Will consult for food: Wolfgang Bernhard hired by potential Chrysler Group bidder
Rumors have been flying around about which companies and/or equity groups are interested in purchasing the Chrysler Group. Buyout firm Cerberus has shown it is definitely in the running by hiring former Chrysler COO Wolfgang Bernhard as a consultant. Bernhard could be an asset to Cerberus since he knows Chrysler's strengths and weaknesses and was one of the architects of Chrysler's last restructuring and short-lived resurgence in the new milennium.
Bernhard has had a string of bad luck lately with jobs, beginning with his ousting from DCX in 2004. He quickly moved over to VW where he was recently let go after a management shuffle. Bernhard never seems to be out of work for long, however, and now he gets the chance to advise one of the front runners on how best to approach a potential Chrysler purchase. If Cerberus does, in fact, win the right to own Chrysler, we wouldn't be surprised to see Bernhard as the new Chrysler CEO.
[Source: Automotive News]
Reader Comments (Page 1 of 1)
Tool 10:13AM (3/15/2007)
I'm beginning to think that the Private Equity Firms would be the best option to acquire Chrysler Group and run it. It needs to be run by a group that is focused on doing a major turnaround, and who are experts in doing that.
Having Wolfgang Bernhard on-board would be a great thing. I thought that Daimler should have brought him back and have him run Chrysler, but it is pretty clear that Daimler wants to get rid of Chrysler once and for all.
I'm not opposed to GM acquiring Chrysler, but I still think that it would better of on its own.
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