- May 14, 2007
Wolfgang Bernhard will not be a part of the Chrysler deal. Yet!
Bernhard will not be part of Chrysler management but will stay with Cerberus. Almost certainly when Bernhard left Volkswagen early this year, his separation agreement included a no-compete clause probably for two years which prohibits him from taking a direct role at Chrysler. What we will probably see is Bernhard acting as a liaison between the equity firm and the carmaker. That probably means LaSorda has about eighteen months to turn things around before Wolfgang steps back in.
[Source: Detroit Free Press]