EX Home Depot CEO takes the steering at Chrysler

Coming as a total surprise to us since late last night, Cerberus Capital has named ex Home Depot CEO as the CEO of Chrysler. Known for his aggressive styling, Robert Nardelli comes to Chrysler with no automotive background whatsoever.

Nardelli served as CEO of Home Depot from 2000 to 2006, ending his term with an impressive track record and a $210 million retiremen package. Nardelli increased sales from $46 billion to $91 billion in 2006, doubling profits to $5.8 billion.

The new Chrysler CEO will be getting paid $1 a source told The Detroit News. “He doesn’t make a dime until...
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chuck717 - 8/6/2007 11:03:32 AM

+1 Boost

Great post- This man may in the long run have single handed destroyed Home-Depot. The morle was zero under him and the customer service was amoung the worse in the indutry, vendors hated to do contract work for them, they (Chrysler)got a gem alright? Really what they got is a fake diamond, again this company makes big mistakes, like their cars they will discontinue the model when it doesn't work just like this marriage will get desolved. good take GS300

mini22 - 8/6/2007 12:56:10 PM

+1 Boost

I must say I'm a little surprised on them not picking Bernhard. Perhaps there are issues with Bernhard that we don't know about. Logic would indicate that he would have been the prime choice due to his experience with Chrysler and making VW profitable in Europe.I don't know anything about Nardelli other then the fact that he has no car experience.

mini22 - 8/6/2007 6:21:32 PM

+1 Boost

Now I'm hearing that Bernhard turned down the job offer from Chrysler.Also Nardelli did not help Home Depot.Weird