• Jun 16, 2010
We haven't heard much from Bob Nardelli since he and his Cerberus buddies rode off into the sunset last year in the wake of the Chrysler bankruptcy. Having proved pretty conclusively that he and his team were incapable of running a large automotive enterprise, Nardelli has apparently managed to climb back on the horse to try again at a slightly smaller enterprise, albeit in a different industry.

This week, Nardelli became non-executive chairman of NewPage Corp, a manufacturer of coated paper. NewPage's previous CEO E. Thomas Curley, Chairman Mark Suwyn and vice president of human resources, Michael Edicola all resigned this week for undisclosed reasons, and Nardelli will oversee the search for a new CEO at the Ohio paper company that is majority owned by Cerberus. It's not known if Nardelli plans to stay on as chairman once new executives are hired.

[Source: The Associated Press]


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  • 21 Comments
      • 4 Years Ago
      Anything that man touches turns to horse manure.
      • 4 Years Ago
      Someone should have warned them! Nardelli destroyed The Home Depot, then Chrysler.
      • 4 Years Ago
      This dude just keeps on failing upwards. He runs a company to the ground and he gets another top job. What gives??
      • 4 Years Ago
      Actually, the Dundler Mifflin comment isn't far off. One paper industry blogger has compared NewPage's management strategy to The Three Stooges:

      http://deadtreeedition.blogspot.com/2010/06/newpage-does-curley-shuffle.html
      • 4 Years Ago
      Oh... I'm sure he'll find some way to screw this up as well.
        • 4 Years Ago
        @Polly Prissy Pants - thank you! the business i worked for formerly just fired its ceo after he ran it into the ground. it's the fourth such business he's run into the ground over 2 decades, yet he kept being hired on due to the good ol' boys club. insane.
        • 4 Years Ago
        anyone who can mess up a sure thing like HD ought to be able to find a way to hose up this too
        • 4 Years Ago
        Just goes to show that skill, knowledge and success mean very little in the world of the Executive boys club. As with corporate boards, once you're in you're pretty much in for life regardless of your general level of incompetence.
      • 4 Years Ago
      He is part of the GE Capital school of big business...raise profits by decimating the workforce. All of those clowns are completely out of touch with reality, but get hired by their friends anyway...who are also out of touch.

      GE Capital is friggin cancer, and like malignant cells, it's ex-executives move to other companies and infect them as well with their draconian way of business. I speak from first hand experience with these idiots.
      • 4 Years Ago
      Gee, leading a company in a declining American industry, backed by a VC firm? That has success written all over it.
      • 4 Years Ago
      I heard his number one choice is Michael Scott.
      • 4 Years Ago
      CEO of Home Depot and for some reason Chrysler thought he could run a car company. I'm sure the $200 million he received from HD cushioned his failure at Chrysler.
        • 4 Years Ago
        Also to be fair, Bob was the only CEO at the congressional bailout hearings who said that he would work for a $1 for the year (Ala Iaccoca), and would resign as CEO if that's what it took to get the bailout bucks. Allan of course was there for moral support since Ford didn't need a cash injection and Rick was.. well Rick, offering nothing but excuses.
        • 4 Years Ago
        To be fair Chrysler didn't hire him, Cerberus did.
      • 4 Years Ago
      Good ole' MINIMUM BOB!
        • 4 Years Ago
        That's what she said.
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