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Automotive Industry
AUTOS: Chrysler Names New Chairman
Experienced CEO Robert Kidder to replace Nardelli once bankruptcy, Fiat deal are completed.
SPEED Staff  |  Posted May 20, 2009   Dearborn, Mich.
Chrysler is still looking for someone to buy its Dodge Viper brand as the company proceeds with bankruptcy. (Photo: Dodge)
Chrysler LLC has named C. Robert Kidder, former chairman of Borden Chemical Inc. and of Duracell International Inc., to become chairman of the Chrysler Group once it completes acquisition of the remaining assets and forges a global alliance with Italian automaker Fiat.

Kidder will replace Robert L. Nardelli, who said last month that he would leave his position once the current bankruptcy proceedings and Fiat deal are completed.

“I am pleased to join Chrysler at a time when Chrysler is poised to launch an exciting new era,” Kidder said. “I am confident that Chrysler will emerge from Chapter 11 a lean and powerful competitor, combining its own rich history of innovation with Fiat's technology and expertise to invigorate the American car market and to challenge other car companies around the globe.”

Currently chairman and CEO of 3Stone Advisors LLC, an investment firm that focuses on clean-tech companies, kidder has 40 years of industry experience. He previously has served as Chairman and CEO of both Duracell International Borden Chemical and as director of such companies as Electronic Data Systems Corporation and General Signal Corporation.

“We are most fortunate that Bob Kidder will lead the new company through its transformation,” Nardelli said. “My number one priority has been to preserve Chrysler and the livelihoods of thousands of people who depend on its success.

“With his broad expertise serving on numerous world-class boards and his accomplished business background, Bob will provide the leadership and strategic counsel that will help to create a strong global competitor moving forward.”

Nardelli, chairman and CEO since August 2007, announced April 30 that he would leave the company once it returns as a new company in alliance with Fiat. He plans to return to Cerberus Capital Management LP, the financial group that now owns Chrysler, as an advisor.
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