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]