Chrysler's Chapter 11 Raises Management Questions For Future
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Chrysler finally files Chapter 11. CEO Bob Nardelli is leaving. Vice chairman James Press is likely gone. Vice chairman and former Chrysler CEO Tom Lasorda is retiring.
Fiat, which will soon own 20% of Chrysler, will choose three board members of the automaker as it goes through Chapter 11 reorganization, while the government will choose six others. Fiat, too, will select a chairman and CEO of the company, which may turn out to be Fiat CEO Sergio Marchionne.