Monday, September 17, 2007

Turning Chrysler

Is Robert Nardelli building a dream team at Chrysler? An excerpt from Business Week:

Cerberus had been scouting talent even before it acquired Chrysler in May. In March, while it was bidding for the carmaker, its managers were talking to Nardelli, and later had headhunters stocking a pool of hot prospects. They approached Press a few months after. He met with Cerberus founder and CEO Stephen Feinberg over the summer, says a source close to the firm, and Feinberg made an impassioned pitch about joining a patriotic mission to save an American icon. Deborah Wahl Meyer, the former vice-president of marketing for Toyota's Lexus division who became Chrysler's chief marketing officer on Aug. 15, was approached by Heidrick in July, met with Cerberus, and negotiated a deal over two months. She couldn't resist the turnaround bid: "You only get a few chances in your career to do this."

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