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The New Chrysler Marks 'First Day'

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Joined: 01 Jan 2004
Location: Uzbekistan

PostPosted: Mon Aug 06, 2007 6:03 pm    Post subject: The New Chrysler Marks 'First Day' Reply with quote

Auburn Hills, Mich., Aug 6, 2007 - The New Chrysler marked the "First Day" of a new era today by bringing back its Pentastar corporate logo, announcing a new corporate advertising campaign and staging a celebratory rally for thousands of employees on the lawn outside its company headquarters. The "First Day" events follow the August 3 contract signing under which New York-based Cerberus Capital Management assumed majority ownership of the company, with former owner DaimlerChrysler AG maintaining a significant minority stake.

In an address to employees around the world, Chrysler Chairman and CEO Bob Nardelli and Chrysler Vice Chairman and President Tom LaSorda outlined the strong suits of 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.

The New Chrysler is breaking ground as the first major North American auto manufacturer to become privately owned in more than half a century. Both executives pointed out that a key benefit of going private is that it would allow The New Chrysler to strengthen its focus on long-term success rather than pursuing the short-term expectations of capital markets.

Nardelli and LaSorda also acknowledged the need to continue to build relationships with important stakeholders including employees, dealers, suppliers, government and community officials. LaSorda added that the Company will continue its long tradition of community support through efforts such as the United Way and the newly renamed philanthropic arm, the Chrysler Foundation.

Following a nine-year hiatus, the Pentastar is back as the corporate mark for The New Chrysler. First used as a logo in 1962, the five-pointed star within a pentagram returns with a bold, three-dimensional update. The freshened design communicates The New Chrysler's pride in its heritage even as it looks to the future with renewed confidence.

The symbol will be used on buildings, signage and corporate stationery. Even during the past nine years, the logo has continued to adorn the company's headquarters.

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Joined: 01 Jan 2004
Location: Uzbekistan

PostPosted: Mon Aug 06, 2007 6:27 pm    Post subject: Reply with quote

Auburn Hills, Mich., Aug 5, 2007 - Chrysler LLC today announced that its Board of Directors has appointed Bob Nardelli as Chairman and CEO of Chrysler LLC. The Board also announced that Tom LaSorda has been appointed Vice Chairman and President of Chrysler LLC, reporting to Nardelli.

"We are excited to welcome Bob to the Chrysler family," said LaSorda. "Bob has a proven track record of success and an unwavering focus on performance, and brings deep operational experience and a broad industry background to Chrysler. His background in operations will provide valuable knowledge as we continue Chrysler's turnaround."

"I am very excited to be part of a team focused on re-establishing Chrysler as a standalone industry leader, with a renewed focus on meeting the needs of customers," said Nardelli. "Chrysler has many deeply talented and dedicated people, and I am confident that together we can continue the momentum of Chryslerís recovery and return this great American icon to a path for global growth and competitiveness."

In addition, Eric Ridenour, Chief Operating Officer, has elected to leave the new company to pursue other opportunities. The COO position will not be filled going forward. "Eric gave this company 23 years of great service and leadership," said LaSorda. "We wish him well in his new pursuits."

Concurrent with the close of the Chrysler transaction on August 3, 2007, the new Board of Directors of Chrysler LLC was formed. It consists of 11 members, including Nardelli, LaSorda, representatives of Cerberus and Daimler, and independent directors.

Cerberus and Chrysler would like to thank Wolfgang Bernhard for his contributions leading to the closing of this transaction. Both Cerberus and Chrysler had looked forward to his continuing contributions as Non-Executive Chairman of Chrysler, however due to personal and family reasons he was not able to accept that role.

Cerberus has also asked, and Tom LaSorda has agreed, to serve as the Vice Chairman of Cerberus Operating and Advisory Company LLC (COAC), Cerberus' proprietary operations advisory affiliate. In that role, LaSorda will assist in the continuing development of COAC, which works closely with the portfolio companies in which the funds and accounts managed by Cerberus are invested.

Prior to joining Chrysler, Nardelli served as Chairman, President and CEO of The Home Depot beginning in 2000. During his tenure at The Home Depot he doubled sales as well as the number of store operations; moved globally into Mexico and China; and delivered more than 20 percent earnings-per-share growth for four consecutive years while growing dividends from 16 cents to 90 cents per share. Nardelli also has extensive senior operations experience in manufacturing and transportation systems.

Nardelli received his bachelorís degree in business from Western Illinois University and earned a Master of Business Administration from the University of Louisville.

Nardelli, an Atlanta resident, chairs the Atlanta Board of Visitors of the Savannah College of Art and Design and has also served on President Bushís Council on Service and Civic Participation. He has also chaired the advisory board for the nonprofit group Hands on Network and strongly supported KaBoom!, a national nonprofit organization building community playgrounds. Nardelli has received numerous awards for his strong support of military veterans, and received the Distinguished Pennsylvanian Award from Gannon University (1995) and the Distinguished Alumni Award from the College of Business and Technology at Western Illinois University (1997 and 1999). He is an alumni fellow and 2001 Alumnus of the Year of the University of Louisville, and serves on the National Visiting Committee Advisory Board, University of Louisville Graduate School of Business.

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After Nardelli made off like a bandit when he resigned from Home Depot, I'm not sure this is the greatest thing ever for the company - Code3TJ
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Joined: 09 Jul 2007

PostPosted: Mon Aug 06, 2007 7:59 pm    Post subject: Reply with quote

... But looking deeper I noticed a couple subtle things that were possibly good signs for Jeep:

1. The private company... They mentioned that a benifit of being private is the ability to plan for the long term and not be so tied to short term demands.... It is great ot hear that they see it this way because:
Jeep is a brand which (for many people) calls to mind a rugged and very capible vehicle... Now a company thinking for the short term might look to capitalize on this image by making cars that a lot of people will buy and that will be something the average person will like. Now what does that mean? Well... If you want a lot of people to BUY your product you must make it cheap (crappy axles, cheaper engines and even thinner sheet metal) and if you want the AVERAGE person to like it you must make it comfortable and this means less vibration and a softer ride (IFS anyone?), and less noise (road tires... More dead weight insulation), and better fuel economy (less power, possible use of less reliable engine components). But what will happen in the LONG TERM of a company does that? The answer is that the image will fade and they will be just another SUV... And well market research may sow that the vast majority of consumer only need and SUV a stratigic think will recognize that there are a million options for those customer and Jeep is the only one that can set itself apart...

2. This one is even more subtle but the old logo was given a face lift and used to convay its "pride in its heritige" does this mean a return to its roots for the brands including jeep may be in the plans?
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