When Cerberus Capital Management owned Chrysler, it put former CEO Bob Nardelli in charge of The Pentastar. When Nardelli left, shortly after Chrysler came out of bankruptcy, he stepped across the corporate drawbridge and into a role at Cerberus, heading its Operations and Advisory Company. Now, Bloomberg reports that he's leaving that role in order to focus on his own investment and consulting firm, XLR-8, although he'll remain a senior advisor to Cerberus CEO Stephen Feinberg. Nardelli will also give up the CEO position at Freedom Group, a position he's held for two months at the Cerberus-owned firearms maker.

This is Nardelli's third departure in five years, having left The Home Depot in 2007 and Chrysler in 2009, but this time it's without any obvious controversy after a quiet tenure. His own firm, XLR-8, will keep him in the private equity ranks, as his company's mission is "to raise money to acquire underperforming companies, and to help them operate more profitably and improve their enterprise value." He will maintain a connection to Cerberus through his own company, with the private equite house expected to be lead investor on XLR-8's transactions.


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  • 24 Comments
      Shotgunner
      • 3 Years Ago
      The name of his company would work better as a vanity plate.
        CEC
        • 3 Years Ago
        @Shotgunner
        A guy in town has that exact plate for his Z28 Convertable.
      TheDward
      • 3 Years Ago
      Ex-Cerberus? Nardelli better watch out for the Ilusive Man.
      guyverfanboy
      • 3 Years Ago
      Bob Nardelli is widely considered one of THE WORST CEO's ever! If he couldn't get Home Depot or Chrysler to perform better than how is he going to do that to any other company?!
        TMTexas
        • 3 Years Ago
        @guyverfanboy
        'Tis true, from an employee and shareholder value standpoint he's been purely awful. My guess is that someone still thinks he has some chops since he's a product of the GE management school. But you have to admit that it makes sense he was never promoted to CEO at GE when you look back on it, they must've sensed something and they were right. Ruined Home Depot, didn't do much with Chrysler either.
      chirowolf
      • 3 Years Ago
      Lets see who we can Bankrupt next? and the corp. merry-go-round keeps spinning. When is the world and big business going to recognize CEO do not deserve compensation for bankrupting companies!!!! When CEOs make 100x and more than the rank-and-file you can almost guarantee the company will eventually fail. CEO and the Board no longer have any interest in making companies profitable. They are not accoutable, just the opposite, it is many time more profitable to drive the company into bankruptcy, then get a bonus for "guilding" the company out of bankruptcy, then retiring with a huge bonus adn then sign on as a "advisor". What a bunch of crap. My broker now hates me. Any time I want to invest in a company I make him do the research on executive compensation. I will not give my money to companies who allow Executives to rape the company. I can no longer do mutual fund for this reason. i'm still probably getting screwed but at least I feel I have some control.
      Polly Prissy Pants
      • 3 Years Ago
      At a certain level you start paying for connections, not business accumen. That's why incompetent C level execs get 8 figure bonuses and keep getting hired over and over again. Contrary to what the plutocrats ruling America would lead you to believe, we pay executives for who they know and their access to influence, not what they know as business leaders.
      • 3 Years Ago
      [blocked]
      Autoblogist
      • 3 Years Ago
      I'm surprised this CEO hack still has a job.
      David MacGillis
      • 3 Years Ago
      Ever heard of the "Midas touch"? Nardelli has something like that, but instead of what he touches turning to gold, it turns into feces. The s*** touch.
      Peter Foglia
      • 3 Years Ago
      It never ceases to amaze me how guys this incompetant can continue to find work, anywhere! He has far exceeded the limits of the Peter Principals. And I can only imagine what kind of "advisor" he can be! Put this guy out to pasture-we've had enough of him...
      tipdrip215
      • 3 Years Ago
      Lets see who this nutcase screws up next. I'm sure Walter P. Chrysler would not have kind words for this man. In the meantime, thanks Sergio for fixing what he and the Daimler cronies screwed up.
      inthelv
      • 3 Years Ago
      "to raise money to acquire underperforming companies, and to help them operate more profitably and improve their enterprise value." Translation: Find companies with lots of pension fund cash, gut them and move on to the next planet to devour and destroy...
      CEC
      • 3 Years Ago
      10 to 1 his company goes belly up in a couple of years.
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