BREAKING : C. Robert Kidder announced as CEO of Chrysler LLC Group

Once Chrysler finishing the Chapter 11 bankruptcy filing, which may take up to two years, Chrysler's current CEO, Bob Nardelli will step down and go back to Cerberus as an advisor. However, who's the replacement?

First, there were rumors that Fiat's CEO, Sergio Marchionne to become Chrysler's CEO. Luckily, there were just false rumors. Chrysler announced that after Bob Nardelli will go, C. Robert Kidder, former Chairman of Borden Chemical Inc. and Duracell International Inc., will become Chairman and CEO of Chrysler LLC once it completes its global alliance with Fiat SpA.

“I am pleased to join Chrysler at a time when Chrysler is poised to launch an exciting new era,” said Kidder. “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.”

Source : [Chrysler LLC Group]

PRESS RELEASE

C. Robert Kidder to Become Chairman of Chrysler Group LLC

AUBURN HILLS, Mich., May 20 /PRNewswire/ -- Chrysler LLC today announced that C. Robert Kidder, former Chairman of Borden Chemical Inc. and of Duracell International Inc., will become Chairman of Chrysler Group LLC, once it completes its acquisition of the operating assets of Chrysler LLC and completes a global alliance with Fiat SpA. He will succeed Robert L. Nardelli."We are most fortunate that Bob Kidder will lead the new company through its transformation," said Nardelli. "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."