New CEO Nardelli takes over at Chrysler as LaSorda stands by
Chrysler's new Chairman and CEO Bob Nardelli introduced himself at a press conference this morning as his new No. 2 Tom LaSorda stood by his side (more like directly behind him). LaSorda, who until this past weekend was CEO himself, is staying on the team, though his own No. 2, COO Eric Ridenour, has decided to leave the company after 23 years of service.
Our man on the scene, Chris Shunk, reported there was a lot of talk about this being the "right team" and the "right time", though LaSorda, who helped devised and launch Chrysler's current turnaround plan, admitted that he told Cerberus management they should hire someone new if they thought that person could do a better job with the company than he could. Apparently they took him up on his offer.
That's why we find this picture so appropriate, with LaSorda acting as Chief Executive Wallflower to Nardelli's new Big Boss Man role. Of course, we know LaSorda's role will still be important, as both the UAW and CAW have been working with him during the ongoing contract talks that are crucial to the company's turnaround.
[Source: Automotive News, sub. req'd]
Reader Comments (Page 1 of 2)
Josh 12:46AM (8/07/2007)
LaSorda sure looks happy.
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Karl 8:25PM (8/06/2007)
LaSorda's days are numbered, if one follows precedent and what I've read elsewhere. Guys like that have egos, and his isn't going to allow him to play second fiddle.
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Woodstock 8:29PM (8/06/2007)
Bob Nardelli didn't know anything about retailing, missed the cut at GE and went to Home Depot. He helped Home Depot like Katrina helped the Gulf Coast. They may be back to normal in 8-10 years. I'm glad Cerberus is private money.
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Wunderbird 7:34AM (8/07/2007)
These guys at Cerberus didn't become rich by being stupid. Maybe they know something about Nardelli that the rest of us don't. Only time will tell why they chose him.
Petey 8:29PM (8/06/2007)
Usually, when there's a new top dog.. they clean house and bring in their own people... I give LaSorda 3 months before he announces his retirement with nice going away package. Why would he want to stay with a sinking ship.
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AMcA 8:49PM (8/06/2007)
Ooooo. Our Mr. LaSorda doesn't look happy.
I predict this all ends badly. Nardelli killed Home Depot - yeah, it's still huge and dominant, but now it's a lousy store. They cut corners on all the wrong things.
All the car guys are going to flee, and Nardelli isn't going to have a clue what to do. Not that that's going to stop him.
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waitingforvizzini 10:36AM (8/08/2007)
Nardelli got his lunch eaten every year he was there by Lowes home Improvement. Then there was the shareholder meeeting fiasco.
RicardoHead 8:50PM (8/06/2007)
Anyone who was paid $210,000,000 to GO AWAY AND NEVER COME BACK is probably not worth hiring as a CEO.
That being said, can I get a free Made In China stanley screwdriver set with that new Sebring? Or maybe a stupid orange retard hat and apron?
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whofan 3:57PM (8/07/2007)
What would drive a man to continue to go to work after getting that kind of money? I`d buy a nice boat and spend my days fishing.
JC3 8:54PM (8/06/2007)
He's already scarring away all the car guys judging from the posts on autoblog.Please get him out and bring in a real car guy with vision before it's too late.I mean,yuck.At Depot all the good people left because he hired know nothing part timers that they could pay less and moral and the retail experience suffered.This guy is a bean counter.
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mj 8:55PM (8/06/2007)
Good for Nardelli. He found a company he can't run into the ground - because it's ALREADY SIX FEET UNDER!
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mcampbe7 9:04PM (8/06/2007)
The previous comments about the damage done at Home Depot by Nardelli are spot-on. There's no two ways about it, he's a giant tool. But Cerebus may have gotten exactly what they wanted. Nardelli mortgaged (actually, more like sold out) Home Depot's future in order to make some short-term numbers look good. He knew he'd be out out of there by the time the piper came calling. Cerebus may want the exact same thing from him at Chrysler so they can cash out in a couple of years.
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JC3 9:27PM (8/06/2007)
Yup.
KJC 10:03PM (8/06/2007)
Absolutely, and they have a Federal Goverment bail out in their hip pocket to use when the time comes.
These guys only care about return on investment and the investment hounds get impatient.
Andre 9:03PM (8/06/2007)
Cerebus just shot themselves in the foot.. Nothing but Downhill from here on out now that Nardelli is at the Helm with a very unimaginative,vision less Ideology.
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F451 9:04PM (8/06/2007)
Bring in the clowns...oh wait, there's Nardelli in the photograph. Why can't these "wealthy" losers just retire on some island that's used as a weaponry mark? Nothing like seeing a tactile nuke heading toward your south forty!
As hard as I've been hard on Chrysler I was hoping they would prove me wrongthey didn't.
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BobinCobb 9:25PM (8/06/2007)
With Nardelli at the helm maybe we'll see a retro-deSoto and a reprise of the Nash Ambassador. This guy couldn't manage his way through the check-out line a Safeway. Any talent at Chrysler has got to be running for the exits.
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Made In Detroit 10:52PM (8/06/2007)
Easily one of the best/definitive images ever taken specific to the crash of Detroit's automotive industry. LaSorda looks like he was kicked in the groin, taking a back seat to Nardelli. I agree with the above posters - LaSorda sticks around to work on transitioning negotiations out of his power and into Bob's and then takes a walk out the Auburn Hills doors.
I have to admit it, I had such a glimmer of hope when I read the comment from Wolfgang regarding the Imperial (paraphrasing - This car will never see production). He seemed ready to take over the reigns, and for once his arrogance would be desperately needed internally.
This is tragic, and will end in absolute disaster.
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Chivo 11:23PM (8/06/2007)
My family and I have bought 5 new Dodge vehicles over the past decade (2 Dodge Ram's, 1 Dodge Neon, 1 Dodge Caravan, 1 Dodge Charger). After reading who is the new CEO at Chrysler, I know things are going to get worse for the company. I will never again buy a Chrysler vehicle, since I don't trust where the company is heading with Nardelli. I was planning to buy the new Challenger once it came out, not anymore. Too bad, I have never had any problems with any Dodge automobile, but I know that the cost cutting under Nardelli is going to make their cars crap.
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Tim 1:20AM (8/07/2007)
Nardelli is notorious for being tough on and insensitive to workers. This is a clear signal to the unions.
Chrysler to UAW: "Lets play hardball"
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