With the deal completed and Chrysler now in the hands of Cerberus Capital Management, the troubled automaker is celebrating its new beginning and looking to the future. While Canadians celebrated a holiday Monday, thousands of Chrysler employees gathered in a celebratory rally outside company headquarters, and were joined by colleagues at various offices around the globe.
This, and other "first day" events mark the Aug 3 signing of the contract which put Chrysler in the hands of the New York based Cerberus, while DaimlerChrysler AG maintained a major minority stake at around 20 percent.
Addressing employees at the events, new Chairman and CEO Bob Nardelli and Vice Chairman and President Tom LaSorda outlined the New Chrysler as a blend of longstanding traits and a willingness to embrace new processes to thrive in today's ultra-competitive marketplace. The new management team of Nardelli and LaSorda was announced earlier today, and puts LaSorda into a second in command position.
Chrysler is now a privately owned company- a status which management says will allow the pursuit of long-term success rather than the short term expectations of the capital market.
photo:Chrysler
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This, and other "first day" events mark the Aug 3 signing of the contract which put Chrysler in the hands of the New York based Cerberus, while DaimlerChrysler AG maintained a major minority stake at around 20 percent.
Addressing employees at the events, new Chairman and CEO Bob Nardelli and Vice Chairman and President Tom LaSorda outlined the New Chrysler as a blend of longstanding traits and a willingness to embrace new processes to thrive in today's ultra-competitive marketplace. The new management team of Nardelli and LaSorda was announced earlier today, and puts LaSorda into a second in command position.
Chrysler is now a privately owned company- a status which management says will allow the pursuit of long-term success rather than the short term expectations of the capital market.
photo:Chrysler
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