Bankrupt Chrysler LLC on Wednesday afternoon named a new chairman:
C. Robert Kidder, the former chair of Duracell International Inc. and Borden Chemical Inc. He'll take up his duties at the automaker once it completes its reorganization and begins an alliance with Fiat SpA.
Kidder, who is currently the lead director on the board of Morgan Stanley (NYSE:MS) and chairman of private equity firm
3Stone Advisors LLC, will succeed current Chrysler chairman and CEO Bob Nardelli, who is stepping down as part of the company's reorganization.
Kidder has Michigan ties, earning his bachelor's degree in Anne Arbor. But his only automotive experience came during his tenure with McKinsey and Co. when he worked with an auto manufacturing client.
It is interesting to note Chrysler is naming a battery man to lead its board, given the emphasis being placed on electric vehicles, hybrids and other cleaner technologies. Kidder in a statement said that he is "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." -
Lou Whiteman
Lou Whiteman is a senior writer covering the automotive, transportation and industrial sectors. Follow him on Twitter @louwhiteman
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