• Aug 21st 2009 at 2:27PM
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According to The Wall Street Journal Jim Press, the Chrysler Group LLC Deputy Chief Executive and sole surviving member of pre-bailout/bankruptcy Chrysler will be resigning his post by the end of November. The WSJ quotes three anonymous people close to the plan. When reached for comment, Press only stated, "I don't think anything has been released about management changes." If true, Press's departure will leave Fiat/Chrysler CEO Sergio Marchionne without any former-Chrysler advisers -- which may not be such a bad thing considering recent offerings like the Sebring, Journey and Caliber.
Still, one has to question the wisdom of losing a salty North American market insider like Jim Press, who spent 37 years at Toyota. Especially since Press was in the trenches when the Japanese automaker went from screwball import in the Sixties to the largest automaker in the world just a few decades later – a trick that Fiat would no doubt like to emulate.

Press was hired by Chrysler's former masters, Cerberus Capital Management LP, in 2007. His ToMoCo experience was supposed to help right Chrysler's boat, but it had too many holes in the hull from the apparent abuses inflicted by former "equal" Daimler. After a year on the job, Press found Chrysler on the brink of bankruptcy, and a few months later, they went under. If this report is true, it will be a sad chapter in an otherwise stellar career. Stay tuned.

[Source: The Wall Street Journal | Image: Bill Pugliano/Getty]

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