"Big Bob" Nardelli To Step Down As Chrysler CEO

Borden Chemical and Duracell Chairman C. Robert Kidder will take over as chairman of Chrysler when it emerges from Chapter 11 bankrupty, says the Wall Street Journal. Mr. Kidder will be taking over for former Home Depot CEO and well-known golden parachute enthusiast Robert “Big Bob” Nardelli.

The WSJ says:

Mr. Kidder will succeed Robert Nardelli, who will step down as chairman and chief executive when Chrysler emerges from Chapter 11 bankruptcy protection. Chrysler said it will name a new CEO “with Fiat’s concurrence.”

If all goes as planned, after bankruptcy, Chrysler will be jointly owned by Fiat, the United Auto Workers union and the U.S. and Canadian governments.

Chrysler Names Nardelli’s Successor [WSJ]