Auburn Hills, Michigan – C. Robert Kidder, the former chairman of Borden Chemical and Duracell International, will become chairman of Chrysler LLC once it emerges from bankruptcy and completes a global alliance with Fiat. He will succeed Robert Nardelli.
“We are most fortunate that Bob Kidder will lead the new company through its transformation,” Nardelli said. “My number-one priority has been to preserve Chrysler and the livelihoods of thousands of people who depend on its success. With his broad expertise serving on numerous world-class boards and his accomplished business background, Bob will provide the leadership and strategic counsel that will help to create a strong global competitor moving forward.”
With more than 40 years of experience, Kidder currently serves on the boards of Morgan Stanley, Schering-Plough Corporation, and Microvi Biotech Inc.
Nardelli, Chrysler’s chairman and CEO since August 2007, announced his plan to leave the company following the completion of the transactions. He will return to Cerberus Capital Management LP as an advisor. As stated in the terms of the agreement, upon successful completion of the alliance, a board of directors for the new company will be appointed. The majority will be independent, and not employees of Chrysler or Fiat. The board will select a CEO with Fiat’s concurrence.