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]