Chrysler fills out board of directors
The new Chrysler Group, LLC is out of bankruptcy, in bed with the Italians and the U.S. Government, and now it has a complete board of directors. Chrysler is forging ahead with a fresh group of board members, including former governors, Fiat royalty, and some people you've probably never heard of.
Chrysler announced the rest of its nine member board of directors over the holiday weekend, joining active chairman C. Robert Kidder, who was announced in May. Among the new board members are former Michigan Governor and U.S. Congressman James Blanchard, Fiat CEO Sergio Marchionne, Fiat Powertrain CEO Alfredo Altavill and former Northwest Airlines CEO Douglas Steenland.
Noticeably absent from the board is overt representation from the United Auto Workers, which is perhaps surprising as the labor group owns part of the new Chrysler. Hit the jump to read up on all of the automaker's board members.
[Source: Chrysler | Image: Bill Pugliano/Getty]
Formation of Chrysler Group LLC Board Is Completed
Nine-Member Board Brings Wide-Ranging Experience and Skills to Board's Mission to Advance Chrysler's Future Viability
Auburn Hills, Mich., Jul 5, 2009 -
Chrysler Group LLC announced the appointment of additional members to its Board of Directors, completing the nine-member Board that will provide oversight to the Chrysler Group.
"The formal creation of our Board of Directors is another important step toward building a viable Chrysler Group for the long term," said C. Robert Kidder, acting Chairman of the Board which is expected to hold its first meeting on July 29. "Our board members bring a wealth of talent and experience in areas such as transportation, finance and investing, energy and government. We will work together as a Board of Directors to support Chrysler Group's success to the benefit of all stakeholders."
Kidder, currently Chairman and CEO of 3Stone Advisors LLC, was previously announced to the Chrysler Group LLC Board of Directors on May 20. Joining Kidder on the board are: Alfredo Altavilla, CEO of Fiat Powertrain Technologies; James Blanchard, former U.S. Congressman and Governor of Michigan; George F.J. Gosbee, Chairman, CEO and President of Tristone Capital Inc.; Sergio Marchionne, CEO of Chrysler Group LLC and CEO of Fiat S.p.A; Douglas Steenland, former CEO of Northwest Airlines; Scott Stuart, a founding partner of Sageview Capital LLC; Ronald L. Thompson, Chairman of the Board of Trustees for Teachers Insurance and Annuity Association (TIAA); and Stephen Wolf, Chairman of R.R. Donnelley & Sons Co.
"While Chrysler Group LLC is a private company, the Board is focused on supplying the strong governance that would be expected of a public company," Kidder said. "We are looking forward to working as a single team to provide the oversight, guidance and expertise that will help make Chrysler Group successful."
Chrysler Group LLC's Board of Directors includes the following individuals:
Alfredo Altavilla is the Chief Executive Officer of Fiat Powertrain Technologies and Senior Vice President of Business Development of Fiat Group Automobiles. He joined Fiat Auto in 1990 as manager of product development, playing roles of increasing responsibility in the field of international ventures and strategic planning.
James J. Blanchard, Partner and Co-Chairman, Regulatory and Government Affairs at DLA Piper, one of the world's largest law firms. He is former ambassador to Canada, served two terms as governor of Michigan and four terms as a member of the United States Congress.
George F.J. Gosbee, Chairman, CEO and President of Tristone Capital Inc., a global energy advisory firm that provides fully integrated investment banking, property acquisitions & divestitures, and global equity capital markets services. Mr. Gosbee founded the firm in 2000, creating a unique model to assist oil and gas companies by combining technical expertise with financial professionals.
C. Robert Kidder, who currently serves on the boards of Morgan Stanley, where he is the lead director, Schering-Plough Corporation, and Microvi Biotech Inc. He previously served as Chairman and Chief Executive Officer of both Duracell International Inc. and Borden Chemical Inc. and as director of such companies as Electronic Data Systems Corporation and General Signal Corporation. During his tenure with McKinsey and Co. Inc., he worked with a major OEM client in the automotive industry. He currently is Chairman and CEO of 3Stone Advisors LLC, an investment firm that focuses on clean-tech companies.
Sergio Marchionne, CEO of Chrysler Group LLC since June 2009. Previously, he was appointed Chairman of CNH Case New Holland in April 2006 and CEO of Fiat Group Automobiles in February 2005. He was appointed CEO of Fiat S.p.A. in June 2004 and has been a Member of the Board since May 2003. He is Chairman of SGS Group of Geneva, and among other positions he was CEO of SGS Group of Geneva and was Chairman and CEO of Lonza Group Ltd.
Douglas Steenland, former CEO of Northwest Airlines. He joined Northwest Airlines in 1991 as Vice President and Deputy General Counsel. After becoming CEO in 2004, he successfully reshaped Northwest Airlines into a financially viable airline. Mr. Steenland also worked as a Senior Partner at the Washington, D.C. law firm of Verner, Liipfert, Bernhard, McPherson, and Hand and served in the Office of the General Counsel of the U.S. Department of Transportation.
Scott Stuart, a founding partner of Sageview Capital LLC, and former partner and member of the investment committee at Kohlberg Kravis Roberts & Company (KKR). He currently serves on the board of EverBank Financial Corp., Aveos Fleet Performance Inc. and previously served on such boards as Borden Chemical, Inc., Duracell International Inc., Nabisco, Inc. and Sealy Corporation.
Ronald L. Thompson, Chairman of the Board of Trustees for Teachers Insurance and Annuity Association (TIAA), a for-profit life insurance company that serves the retirement and financial needs of faculty and employees of colleges and universities, hospitals, cultural institutions and other non-profit organizations. He previously owned and operated Midwest Stamping Company of Maumee, Ohio, and rapidly grew the business into a first tier automotive supplier and one of the largest minority-owned companies in the U.S.
Stephen Wolf, Chairman of R.R. Donnelley & Sons Co. His career in the aviation industry began in 1966 with American Airlines. After positions at Pan American World Airways, Continental Airlines and Republic Airlines, he served as Chairman and Chief Executive Officer of UAL Corporation and United Air Lines, Inc. from 1987 to 1994. He became Managing Partner of Alpilles LLC in 2003.
About Chrysler Group LLC
Chrysler Group LLC, formed in 2009 from a global strategic alliance with Fiat Group, produces Chrysler, Jeep®, Dodge, Mopar® and Global Electric Motors (GEM) brand vehicles and products. With the resources, technology and worldwide distribution network required to compete on a global scale, the alliance builds on Chrysler's culture of innovation – first established by Walter P. Chrysler in 1925 – and Fiat's complementary technology – from a company whose heritage dates back to 1899.
Headquartered in Auburn Hills, Mich., Chrysler Group LLC's product lineup features some of the world's most recognizable vehicles, including the Chrysler 300, Jeep Wrangler and Dodge Ram. Fiat will contribute world-class technology, platforms and powertrains for small- and medium-sized cars, allowing Chrysler Group to offer an expanded product line including environmentally friendly vehicles.