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post #1 of 126 (permalink) Old 06-10-2009, 08:39 AM Thread Starter
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The "NEW" Chrysler Group from 06/10/09

Chrysler Group LLC and Fiat Finalize Global Strategic Alliance

Posted Wednesday, Jun 10, 2009, 9:54 am in Employee News

Last modified on Wednesday, Jun 10, 2009, 10:13 am.

Chrysler Group LLC and Fiat Group announced today that they have finalized their previously announced global strategic alliance, forming a “new” Chrysler that has the resources, technology and worldwide distribution network required to compete effectively on a global scale. The new Chrysler will begin operations immediately.

As part of the alliance, Fiat will contribute to Chrysler its world-class technology, platforms and powertrains for small- and medium-sized cars, allowing the company to offer an expanded product line including environmentally friendly vehicles increasingly in demand by consumers. Chrysler will also benefit from Fiat’s management expertise in business turnaround and access to Fiat’s international distribution network with particular focus on Latin America and Russia.

“This is a very significant day, not only for Chrysler and its dedicated employees, who have persevered through a great deal of uncertainty during the past year, but for the global automotive industry as a whole,” said Sergio Marchionne, who today was named Chief Executive Officer of Chrysler Group LLC. “From the very beginning, we have been adamant that this alliance must be a constructive and important step towards solving the problems impacting our industry. We now look forward to establishing a new paradigm for how automotive companies can operate profitably going forward.”

Mr. Marchionne continued: “We intend to build on Chrysler’s culture of innovation and Fiat’s complementary technology and expertise to expand Chrysler’s product portfolio both in North America and overseas. Those Chrysler operations assumed by the new company that were idled during this process will soon be back up and running, and work is already underway on developing new environmentally friendly, fuel-efficient, high-quality vehicles that we intend to become Chrysler’s hallmark going forward.

“The same attributes that first attracted us to this alliance – a global automotive company with first-class technology, a devoted workforce, improved efficiency, a strong, global distribution network and an unyielding passion for building great cars that consumers want – are even more true today. While it does not solve every issue faced by the automotive industry today, this alliance, established with the full support of President Obama’s Administration, is a very significant step toward positioning Fiat and Chrysler to be leaders among the next breed of global automakers. This has, I know, been a difficult process for everyone involved, but we are ready to prove to the American consumer that Chrysler can once again be a strong, competitive company that produces a full portfolio of reliable vehicles that capture the imagination and inspire loyalty,” Mr. Marchionne said.

Under the terms approved by the U.S. Bankruptcy Court in New York and various regulatory and antitrust regulators, the company formerly known as Chrysler LLC today formally sold substantially all of its assets, without certain debts and liabilities, to a new company that will operate as Chrysler Group LLC.

Chrysler Group in turn issued to a subsidiary of Fiat a 20 percent equity interest on a fully diluted basis in the new company. Fiat has also entered into a series of agreements necessary to transfer certain technology, platforms and powertrains to the new Chrysler. Fiat’s equity interest will increase in increments by up to a total of 35 percent in the event that certain milestones mandated by the agreement are achieved, but Fiat cannot obtain a majority stake in Chrysler until all taxpayer funds are repaid.

Similarly, the United Auto Workers’ Retiree Medical Benefits Trust, a voluntary employees’ beneficiary association trust (VEBA) has been issued an equity interest in Chrysler Group equal to 55 percent on a fully diluted basis. The U.S. Treasury and the Canadian Government have been issued an equity interest equal to 8 percent and 2 percent on a fully diluted basis, respectively. These interests reflect the anticipated share dilution as a result of Fiat’s incremental equity assumption once the milestones outlined in the strategic alliance agreement are achieved.

In addition to Mr. Marchionne, currently the Chief Executive Officer of Fiat S.p.A. serving as CEO, the new Chrysler will be managed by a nine-member Board of Directors, consisting of three directors to be appointed by Fiat, four directors to be appointed by the U.S. Government, one director to be appointed by the Canadian Government and one director to be appointed by the United Auto Workers’ Retiree Medical Benefits Trust. The Board is expected to name C. Robert Kidder as Chairman. The process of determining additional board members is continuing and updates will be announced as appropriate.

As previously announced, Chrysler has entered into an agreement with GMAC Financial Services to provide automotive financing products and services to the Company’s North American (NAFTA) dealers and customers. GMAC Financial Services will be the preferred lender in North America for Chrysler, Jeep® and Dodge dealer and consumer business, including wholesale of new and used vehicles as well as retail.

About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 from a global strategic alliance with Fiat Group, produces Chrysler, Jeep®, Dodge and Mopar® brand vehicles and products. With the resources, technology and worldwide distribution network required to compete effectively on a global scale, the alliance builds on Chrysler’s culture of innovation – first established by Walter P. Chrysler in 1925 – and Fiat’s complementary technology.

Headquartered in Auburn Hills, Mich., Chrysler Group LLC’s product lineup features some of the world’s most recognizable vehicles, including the Chrysler Town & Country, Jeep Wrangler and Dodge Ram. Fiat will contribute world-class technology, platforms and powertrains for small- and medium-sized cars, allowing Chrysler Group LLC to offer an expanded product line including environmentally friendly vehicles.

About Fiat

Founded in 1899, Fiat is an automotive-focused industrial group, serving customers in more than 190 countries around the world. With some 185,000 employees, 114 R&D centers and 178 plants worldwide, the Fiat Group designs, manufactures and sells passenger cars (Fiat, Lancia, Alfa Romeo, Abarth, Maserati and Ferrari), agricultural and construction equipment (CNH Case New Holland), trucks and industrial vehicles (Iveco), and automotive components (FPT Powertrain Technologies, Magneti Marelli and Teksid).

Rick

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post #2 of 126 (permalink) Old 06-10-2009, 09:10 AM Thread Starter
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"New" Organizational Structure

Chrysler Group LLC Announces Organizational Structure Focused on Chrysler, Jeep®, Dodge and Mopar® Brands

* Sergio Marchionne to Serve as Chief Executive Officer
* Global Brand Structure to Bring Leadership Closer to Employees and Customers
* Commercial, Industrial and Corporate Staffs to Support Brand Organization

Auburn Hills, Mich. , Jun 10, 2009 - As Chrysler Group LLC prepares to begin operations, the new company formed in alliance with Fiat announced an organizational restructuring to focus on the Chrysler, Jeep®, Dodge and Mopar® brands. The new leaner, flatter structure is intended to restore brand promise and dealer confidence. All appointments are effective immediately.

“I personally feel privileged to have the opportunity to lead the new Chrysler and to work with senior management to build this company and our great brands into all we know they can and should be,” said Sergio Marchionne, who today was named Chief Executive Officer of Chrysler Group LLC. “That effort starts with leadership.”

Chrysler Group’s new organization is based on a global brand-focused structure comprised of the Chrysler, Jeep, Dodge and Mopar brands, each with full profit and loss accountability. Common Commercial, Industrial and Corporate functions have been put in place to support the development, manufacture, distribution and sale of Chrysler, Jeep and Dodge products and Mopar parts by the brand organizations.

“The new company’s leadership structure has been developed to rebuild and grow the four iconic Chrysler brands,” said Mr. Marchionne. “With a flattened organization designed to give leaders broad spans of control, we are able to increase the speed of decision-making and improve communication flow, ultimately bringing Chrysler Group management and employees closer to our customers.”

To assist the new company in the transition, Jim Press is appointed Deputy CEO and Special Advisor, reporting to Mr. Marchionne. In this position, Mr. Press will be instrumental in the restructuring of the Chrysler Group LLC. Mr. Press served most recently as Chrysler LLC Vice Chairman & President.

Brand and Commercial Organizations

Mr. Marchionne added: “The focus of the Brand organization is to rebuild and grow the company’s four brands, beginning with their strong heritage. The structure is designed to focus on external competition, avoiding product overlap while maintaining the highest possible level of industrial optimization. The new company will align its networks with the brand positions, to restore brand promise and dealer confidence.”

In support of the Chrysler Group’s brand operations, the company announced the following appointments reporting to Mr. Marchionne:



Peter Fong is appointed President & Chief Executive Officer, Chrysler Brand, with full profit and loss responsibility for the Chrysler product portfolio. Mr. Fong will be the lead executive for the Sales organization with enterprise-wide responsibility. He served most recently as the Director of the Mid-Atlantic Business Center.

Michael Manley is appointed President & Chief Executive Officer, Jeep Brand, with full profit and loss responsibility for the Jeep product portfolio. Mr. Manley will also have enterprise-wide responsibility for the Product Planning organization with responsibility for coordinating the product plan and volume requirements of the Chrysler, Jeep and Dodge brand functions. He will work with the other brand Presidents to translate these into operating plans for the product development and manufacturing organizations. Mr. Manley served most recently as Executive Vice President, International Sales & Global Product Planning Operations.

Michael Accavitti is appointed President & Chief Executive Officer, Dodge Brand, with full profit and loss responsibility for the Dodge product portfolio. Mr. Accavitti will also have enterprise-wide responsibility for the Marketing organization with responsibility to coordinate worldwide marketing strategies, brand development and advertising for the Chrysler, Jeep and Dodge brands. Mr. Accavitti served most recently as Director, Dodge Brand Marketing.

Pietro Gorlier is appointed President & Chief Executive Officer, Mopar Service & Parts and Customer Services, with full profit and loss responsibility for the Mopar product portfolio and Service & Parts operations as well as Chrysler’s Customer Service operations. Mr. Gorlier will have shared accountability with the brands, responsible for parts and services growth and delivery and an integrated world-class approach to customer support. Mr. Gorlier joins Chrysler Group from Fiat Group Automobiles and CNH, where he most recently served as the head of the Network and Owned Dealerships organization.

Joe ChamaSrour will continue to lead the new company’s operations in Mexico as President & CEO, Chrysler de Mexico.

Reid Bigland will continue to lead the new company’s operations in Canada as President & CEO, Chrysler Canada.

Following a lengthy career with Chrysler, Steven Landry, Executive Vice President, North American Sales & Marketing, Global Service & Parts, has announced his intention to retire. Mr. Landry has offered to assist the new company in the transition.

In addition to the appointments of the Brand CEOs, in support of the commercial operations, Chrysler Group LLC announced the following appointment reporting to Mr. Marchionne:

Peter Grady is appointed to lead the Network Development & Fleet organization as Vice President. His responsibilities include ensuring that the Chrysler Group’s restructured dealer network operates at the highest possible level to ensure optimal sales volumes for Chrysler, Jeep and Dodge products. He is also responsible for managing Chrysler Group’s fleet sales organization. Mr. Grady recently served as Director, Franchise Planning and Administration.

“Control over commercial and industrial investments is related to the brand,” said Mr. Marchionne. “Therefore we have developed a matrix-based organization where team work and a disciplined management process are at the core of its success. Understanding the management decision-making process and individual roles are key.”

Industrial Organizations

In support of the industrial operations of Chrysler Group LLC, the following appointments are announced, reporting to Mr. Marchionne:

Scott Kunselman is appointed to lead the Product Engineering organization as Senior Vice President. Mr. Kunselman replaces Frank Klegon, who has announced his intention to retire after a distinguished career with Chrysler. In this position, Mr. Kunselman has responsibility for all product development strategy and advance-vehicle engineering. He also oversees product-development processes, testing and validation. Mr. Kunselman recently served as Vice President, Truck Product Team and Core Team Leader.

Ralph Gilles will continue to lead the Product Design organization as Senior Vice President.

Frank Ewasyshyn will continue to lead the Manufacturing organization as Executive Vice President and assumes responsibility for the World Class Manufacturing processes which are in the process of being rolled out throughout Chrysler’s manufacturing footprint.

Doug Betts will continue to lead the Quality organization as Senior Vice President.

Scott Garberding will continue to lead the Procurement organization as Senior Vice President.

Michael Keegan is appointed to lead the Supply Chain Management organization as Senior Vice President. In this position, Mr. Keegan is responsible for the critical volume planning and logistics functions in close coordination with the Brand CEOs. Mr. Keegan is also responsible for driving dramatic improvements in service levels, working capital efficiency and complexity reduction; optimizing demand and supply to benefit balancing the needs and requirements of the individual brands; and, establishing consistent and effective supply chain processes. Mr. Keegan recently served as Vice President, Volume Planning and Sales Operations.

Corporate/Functional Organizations

Mr. Marchionne added: “As we work to rebuild Chrysler to its rightful place, our corporate support functions have a critical role. These organizations provide systems, processes, knowledge and tools to sustain the business requirements. They also ensure consistency across the company and most important, compliance to applicable laws and regulations worldwide.”

In support of the corporate needs of Chrysler Group LLC, the following appointments are announced, reporting to Mr. Marchionne:

Richard Palmer is appointed to lead the Finance organization as Senior Vice President and Chief Financial Officer. In this position, he is responsible for all of Chrysler Group LLC’s finance activities including Corporate Controlling, Treasury and Tax. Mr. Palmer joins Chrysler Group LLC from Fiat Group Automobiles, where held the position of Chief Financial Officer. Mr. Palmer replaces Ron Kolka who will lead the orderly wind down of Chrysler LLC.

Jan Bertsch will continue to lead the Information Technology (IT) organization as Senior Vice President, Treasurer and CIO (Chief Information Officer). She will continue in her Treasury role reporting to Richard Palmer.

Nancy Rae will continue to lead the Human Resources organization as Executive Vice President.

Holly Leese will continue to lead the Legal organization as Senior Vice President and General Counsel for Chrysler Group LLC.

Gualberto Ranieri is appointed to lead the Communications organization as Senior Vice President. Mr. Ranieri joins Chrysler Group LLC from Fiat Group, where he led the International Communications function. Concurrently he has been responsible for the Communications function for CNH (Case New Holland), a leading manufacturer and seller of agriculture and construction machinery, which is part of the Fiat Group.

Laurie Macaddino is appointed to lead the Audit organization as Vice President. In this position, she will report on a dotted-line basis to the Chairman and the Audit Committee of the Board of Directors. Ms. Macaddino recently served as Vice President, Finance Operations.

John T. Bozzella will continue to lead the External Affairs organization as Senior Vice President.

Barb Pilarski has been appointed to lead the Business Development organization as Vice President. Ms. Pilarski recently served as Executive Director, Mergers & Acquisitions, NAFTA and South America.

Mark Chernoby has been appointed Vice President, Executive Coordinator and C/D Segment Product Engineering. In this position, he will lead the C/D Segment Product Engineering and be the executive coordinator for the management team.

With these appointments, the restructuring of the supporting Chrysler Group LLC organizations begins immediately. Final additional organization structures to be announced upon completion.

“As we begin the process of redesigning the new Chrysler and moving toward our new place in the American – and global – automotive industry, I would like to take the opportunity to thank the men and women of the company for their many contributions,” Mr. Marchionne said. “Chrysler has been through a great deal of hardship and uncertainty over the recent past and I want to recognize their commitment.”

Under the terms approved by the U.S. Bankruptcy Court in New York and various regulatory and antitrust regulators, the company formerly known as Chrysler LLC today formally sold substantially all of its assets, without certain debts and liabilities, to a new company that will operate as Chrysler Group LLC.

In addition to Mr. Marchionne, currently the Chief Executive Officer of Fiat S.p.A. serving as CEO, Chrysler Group LLC will be managed by a nine-member Board of Directors, consisting of three directors to be appointed by Fiat, four directors to be appointed by the U.S. Government, one director to be appointed by the Canadian Government and one director to be appointed by the United Auto Workers’ Retiree Medical Benefits Trust. The Board is expected to name C. Robert Kidder as Chairman. The process of determining additional board members is continuing and updates will be announced as appropriate.


About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 from a global strategic alliance with Fiat Group, produces Chrysler, Jeep®, Dodge and Mopar® brand vehicles and products. With the resources, technology and worldwide distribution network required to compete effectively on a global scale, the alliance builds on Chrysler’s culture of innovation – first established by Walter P. Chrysler in 1925 – and Fiat’s complementary technology.

Headquartered in Auburn Hills, Mich., Chrysler Group LLC’s product lineup features some of the world's most recognizable vehicles, including the Chrysler Town & Country, Jeep Wrangler and Dodge Ram. Fiat will contribute world-class technology, platforms and powertrains for small- and medium-sized cars, allowing Chrysler Group LLC to offer an expanded product line including environmentally friendly vehicles.

Rick

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post #3 of 126 (permalink) Old 06-10-2009, 09:13 AM Thread Starter
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CEO Sergio Marchionne outlines

CEO Sergio Marchionne outlines Chrysler Group LLC’s future



Last modified on Wednesday, Jun 10, 2009, 10:41 am.

To the Men and Women of the New Chrysler:

Today marks a new beginning for Chrysler and the North American automotive industry, as Chrysler Group LLC, a new company formed in alliance with Fiat Group, has completed its acquisition of substantially all of Chrysler LLC’s assets and will begin operations immediately.

It is my great privilege to greet you as your new chief executive officer and to join all of you in building a great future for the new Chrysler. Although we have many challenges yet to overcome, there is no doubt in my mind that we will get the job done. Chrysler will be back—strong and competitive and a rewarding place to work.

You have been through a great deal of hardship and uncertainty over the recent past and I want to start by recognizing your commitment to Chrysler and acknowledge the many sacrifices you have made to help get an American icon back on its feet. Because of your commitment, and the hard work of a range of interested parties, including President Obama and his Automotive Task Force, Chrysler is now a more focused and nimble company that will benefit greatly from its new global strategic alliance with Fiat. The new company moves forward with significant strategic advantages, including a healthy balance sheet, a competitive cost structure, a leaner and more efficient dealer network, sound supplier agreements and significantly improved product quality and operational efficiency.

For those reasons, today is a day for optimism. Chrysler, Jeep and Dodge vehicles will once again roll out of our plants, into our dealers’ showrooms, and soon thereafter onto America’s roads and highways. We have much to look forward to. But we must also not forget what we have learned. The past few years have offered several painful lessons on what it will take to survive in the modern-day automotive industry. The alliance is a bold first step to implement those lessons we’ve learned, but it is only a first step. Now we must prove we can make it work.

We are already moving in that direction. Over the next several months, we will begin the process of transferring Fiat’s technology, platforms and powertrains for small- and medium-sized cars into Chrysler’s manufacturing facilities. This award-winning technology will be critical to helping Chrysler round out its product line and give the company a strategic advantage in many markets around the world. Work is already underway to develop new environmentally friendly, fuel-efficient, high-quality vehicles, including Chrysler’s electric-vehicle program. In the meantime, we will begin working together to find the most effective ways to combine our R&D and distribution networks so that we can begin to reap the many benefits this alliance will provide.

On the leadership side, we are very fortunate that Bob Kidder has agreed to serve as our board chairman. Bob is an experienced executive with a great track record of helping grow companies, and I’m looking forward to working with him. Several other Board seats will be filled in the coming weeks. We will keep you updated as appropriate.

As you know, Chrysler is now majority owned by the Voluntary Employee Beneficiary Association (VEBA). Fiat will initially hold a 20 percent ownership stake in Chrysler, with the ability to increase its ownership stake an additional 15 percent over time by delivering on its commitments to the company. The U.S. and Canadian governments own the rest.

Combined, Chrysler and Fiat today rank as the world’s sixth largest automaker, giving us the scale to compete and win in nearly every market in the world. But while this scale is critical, events have proven that only size managed well will be effective. I ask each one of you to take on a leadership role and work with me to restore Chrysler to being a fully competitive and profitable company once again. Numbers are important in assessing performance, but more important in my mind is how we lead people and lead change..

Five years ago, I stepped into a very similar situation at Fiat. It was perceived by many as a failing, lethargic automaker that produced low-quality cars and was stymied by endless bureaucracies. But most of the people capable of remaking Fiat had been there all the time. Through hard work and tough choices, we have remade Fiat into a profitable company that produces some of the most popular, reliable and environmentally friendly cars in the world. We created a far more efficient company while investing heavily in our technologies and platforms. And, importantly, we created a culture where everyone is expected to lead.

We can and will accomplish the same results here. The people who will lead that charge are for the most part already at Chrysler. We plan to bring that same drive and commitment to innovation to Chrysler as we look to make it one of the driving forces again in our industry.

I am confident that we can get there together.

Thank you again for your commitment to Chrysler. I look forward to meeting and working with all of you in the months and years ahead.

Sincerely,

Sergio Marchionne

Rick

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Answers About New Chrysler

June 11, 2009
Questions About New Chrysler? Here Are Some Answers

The Italian automaker Fiat took management control of Chrysler on Wednesday, in a sale that occurred 42 days after Chrysler sought bankruptcy protection. Now the company can restart operations. Here are the answers to some questions about Chrysler’s future.


Q. What is Chrysler called?

A. The new name is Chrysler Group L.L.C. It was previously Chrysler L.L.C.

Q. Who owns Chrysler?

A. Ownership is primarily divided between the health care trust for retirees of the United Automobile Workers union, which has 55 percent; Fiat, which has 20 percent, and the American and Canadian governments, which hold 8 percent and 2 percent. Eventually, Fiat’s holding will grow incrementally to 35 percent. But it cannot take majority control of Chrysler until it repays money borrowed from the federal government.

Q. Who is running Chrysler?

A. Fiat has management control of Chrysler, even though it is not the majority owner. Fiat’s chief executive, Sergio Marchionne, is the chief executive. Robert L. Nardelli, Chrysler’s previous chief, has left the company. The situation is similar to the relationship between Nissan of Japan and Renault of France, in which Carlos Ghosn, who was a Renault executive, took charge of Nissan. He serves as chief executive of both companies.

Chrysler will also have a nine-member board, with three directors to be appointed by Fiat, four by Treasury, one by the Canadian government and one director by the union health care trust. The board is expected to name C. Robert Kidder as chairman.

Q. Will Chrysler sell stock?

A. That is not clear. Ron Gettelfinger, the U.A.W.’s president, said recently that he wanted to sell the health care trust’s holding as soon as possible, but whether actual shares will be available to the public has not been determined.

Q. When will Chrysler factories reopen?

A. Chrysler said it would restart production once the new company was formed. Mr. Marchionne said production would resume soon. However, the company is also distributing vehicles from closed dealerships to those dealers who will remain open. So, it has an ample supply of automobiles for the time being.

Q. Will Fiat sell cars in the United States?

A. Mr. Marchionne told Chrysler employees Wednesday that his company would soon begin moving technology, engines, transmissions and other components into Chrysler plants so that it can build small- and medium-size cars in North America. The company is working on bringing its Fiat 500 to the United States.

Q. What happens to Chrysler dealers?

A. Chrysler closed nearly 800 dealers as part of its bankruptcy; the rest will operate normally.

Q. What happens if I buy a Chrysler vehicle now?

A. The federal government backed the warranties of Chrysler vehicles while the company was in bankruptcy protection. That responsibility now falls to the Chrysler Group. Warranties on Chrysler models that were purchased before Chrysler filed for bankruptcy will also be honored, until the warranties expire. Consumers whose dealerships have closed can have warranty work done at another Chrysler dealer.

Article LINK:http://www.nytimes.com/2009/06/11/bu...l?ref=business

Rick

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Chrysler Labs web site set up

Chrysler Labs web site set up
June 26th, 2009



Chrysler’s scientific research labs and proving grounds have set up their own web site at Chrysler Test Services with numerous photos of the corporate labs and tracks.

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Chrysler engineering changes

Chrysler engineering changes
June 26th, 2009

ENGINEERING

In support of the industrial operations of Chrysler Group
LLC, the following appointments are announced, effective immediately:

Reporting to Daniel Knott – Head of Vehicle Engineering are the following leaders who will be responsible for all platform specific current and future vehicles. These responsibilities include execution, achievement and management of all functional vehicle attributes, cost, investment, and timing.
Andreas Schell is appointed Vehicle Line Executive – A/B Segment.
Andreas also continues in his role as Head of Innovation & Pre-Program Concepts.

Mark Chernoby is appointed Vehicle Line Executive – C/D Segment.
Mark also continues in his role as Vice President – Executive Coordinator reporting to Sergio Marchionne.

Christine Barman is appointed Vehicle Line Executive – E Segment.
Benjamin Winter is appointed Vehicle Line Executive – Minivans/MUV.
Matthew Liddane is appointed Vehicle Line Executive – SUV.
Michael Cairns is appointed Vehicle Line Executive – Truck.
Joseph Grace is appointed Vehicle Line Executive – SRT.
Russell Ruedisueli is appointed Head of Vehicle Integration and Validation.
Judy Bridgeman is appointed Head of Program Coordination – Vehicle
Engineering.

Reporting to Andreas Schell – Head of Innovation & Pre-Program Concepts are the following:

Louis Rhodes continues as Head of ENVI.
John Mrozowski continues as Head of Advance Vehicle Engineering.
Joseph Savalle is appointed Head of Features Planning.
Stefan Hertweck is appointed Head of Innovation.
Bruce Coventry continues as Head of Global Electrical Motors (GEM)/Peapod.
Thomas Sacoman is appointed Head of Costs & Methods.
John Digasbarro continues as Head of Design for Six Sigma (DFSS).

Reporting to Mauro Pierallini – Head of Systems & Component Engineering are the following:

TBD – Head of Body Engineering.
Steven Jakubiec is appointed Head of Interior Engineering.
Thomas Cowing is appointed Head of Chassis Engineering.
Alan Amici is appointed Head of Electrical / Electronics Engineering.
Robert Wichman is appointed Head of Engine Systems Engineering.
Nagesh Basavanhalli continues as Head of Engineering – Asia / Central Eastern Europe.
Edward Vondell continues Head of Engineering – Mexico and Latin America.
Dennis Krozek is appointed Head of Program Coordination – Systems &
Component Engineering.

Reporting to Stephen Bartoli – Head of Engineering Planning are the following:

Sharon Atkinson Osmond is appointed Head of Operative Planning. In this position, Sharon will be responsible for all engineering capital expenditures, ER&D budget and resource planning activities.
Ann Wagner continues as Head of Competitive Intelligence.
Jack Withrow continues as Head of Propulsion Planning.
Reginald Modlin continues as Head of Regulatory Affairs.
Gregory Rose continues as Head of Stationary Environmental Affairs.
Matthew Reynolds continues as Head of Product Analysis & Regulatory Processes.
Richard Bieszki is appointed Head of Process & Systems Integration.
Jay Wilton is appointed Head of the World Class Product Development initiative.

Reporting to Byron Kearney – Head of Scientific Laboratories, Vehicle Testing & Proving Grounds are the following:

Antonio Mancina continues as Head of the Canadian Automotive Research & Design Center.
TBD – Head of the Chelsea Proving Grounds.
Mark Cerny continues as Head of the Arizona Proving Grounds.
Michael Doman continues as Head of Engineering Services, Building Planning and Shops.
Kipp Owen is appointed Head of Vehicle Functional Testing.
William Rotramel continues as Head of PowerTrain Testing & Analysis.
Lawrence Sak is appointed Head of Materials, Fasteners & Material Standards.
Thomas Laymac continues as Head of Business Planning and Operations – Scientific Laboratories, Vehicle Testing & Proving Grounds.

Reporting to Robert Lee – Head of PowerTrain Engineering are the following:

Margaret Novacek continues as Head of PowerTrain Systems Engineering.
Terry Gutermuth continues as Head of Core Gasoline Engine Engineering.
Michael Dahl continues as Head of PowerTrain Electrical /Electronics & Controls Engineering.
Joseph Guertin is appointed Head of PowerTrain Program Management.
Christopher Cowland continues as Head of the Pentastar Engine Program.
Mircea Gradu continues as Head of Transmission & Driveline Engineering.
Donald Altermatt continues as Head of Diesel Engineering.
Gregory Pannone continues as Head of PowerTrain Integration.
Jay Iyengar continues as Head of Hybrid PowerTrain Programs.

Rick

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What happens when a foreign company buys a U.S. business?

Financial Focus: What happens when a foreign company buys a U.S. business?


Sunday, June 28, 2009

Q: What can stockholders expect when a company they own stock in is purchased by a foreign company, such as the case with Fiat and Chrysler? Does the stock move to another exchange, or does it stay on domestic markets? Is the foreign company held to the same financial and trade regulations as the original company?

Separate corporation

The Chrysler-Fiat example is a difficult one because Chrysler is owned by private investors and not actually a listed company. Many large companies are private like Bechtel Construction, CH2MHILL and Sierra Pacific Industries, to name a few.

Under normal situations, several things can happen to the company that is being purchased. One option is to issue new stock and keep the former company as a separate corporation, like Phillip Morris did with Kraft Foods several years ago.

Another option would be to have the purchasing company (like Fiat) absorb the old company and determine some sort of prorated share conversion from the old company stock to the parent company.

In this case, the purchased company stockholders (i.e. Chrysler) would own shares in the parent company (Fiat).

The current arrangement is for Fiat to own about 20 percent of Chrysler with the option to eventually own 51 percent of Chrysler by 2013. Fiat is the sixth largest auto company in the world and has Alfa Romeo, Maserati and Ferrari as brands in addition to commercial and construction vehicles. It would be difficult to say what Fiat will eventually do.

Fiat is not listed on any U.S. exchanges, but can be found at the Borsa Italiana Exchange in Milan, Italy. It may be possible to purchase Fiat shares through American Depository Receipts (ADRs) where foreign currencies are converted to U.S. dollars for companies held at exchanges outside the USA. Check with your broker to see whether this is possible. International investing involves special risks, such as currency fluctuation and political instability.

Any company (foreign or domestic) is subject to American securities rules and regulations if it is listed on one of the American exchanges.



Rules of exchanges

Unfortunately, this is a broad question with no clear answer. Every merger and acquisition is going to be very different depending on the specifics of the agreement.

However, distinct differences exist among the various stock exchanges, and certain types of stocks are more likely to be found in one exchange than another.

The "Big Board," or the New York Stock Exchange, is probably the best-known exchange in the world. The NYSE has the most stringent set of stipulations for listed companies. All NYSE companies must meet certain minimum requirements covering market capitalization, operating cash flows and earnings. Also, NYSE companies must provide shareholders with certain voting rights.

The "Amex," or American Stock Exchange, began as an alternative to the NYSE. Today, the Amex operates in much the same way as the NYSE, but Amex-listed stocks tend to be small- and mid-capitalization companies that generally don't meet the NYSE's qualifications. You can find many well-known names on the Amex.

Unlike the NYSE and Amex, the Nasdaq does not have a trading floor on which buyers and sellers converge; all Nasdaq trading is done via computer and telephone. Many well-known technology companies and other big names have found their home on the Nasdaq.

Over-the-counter (OTC) exchanges refer to any trading system without a trading floor, so under this definition the Nasdaq would be considered an OTC. But, as the Nasdaq has grown in prestige, the term "OTC" has evolved to refer to those stocks that don't meet the listing requirements of any of the major exchanges, including the Nasdaq. Today's OTC market primarily includes "penny" stocks, which tend to be quite risky.

Ultimately, you probably don't want to let a stock's listing determine whether you buy it, but by knowing where your stocks are listed, you may be able to get another perspective on your portfolio's diversification.



New shares

The investors with an equity stake in Chrysler at the time of the 2009 bankruptcy filing were Cerberus Capital Management L.P., a private equity firm. Presumably that equity stake will be determined to have no value and the firm will no longer have ownership of the firm based on that stake when new Chrysler shares coming out of the bankruptcy are issued. For example, the United Auto Workers (UAW) is slated to receive 55 percent of those new shares to fund Chrysler's health care obligations to UAW workers. Because Chrysler also has debt obligations to Cerberus, that firm may also receive some of the new Chrysler equity shares. The last time Chrysler shares traded was in 1998, until Daimler-Benz and Chrysler merged to form DaimlerChrysler. At that time, Chrysler shareholders received 0.547 of a DaimlerChrysler share for every Chrysler share they owned. DaimlerChrysler divested its final percentage of Chrysler ownership in April 2009 and is renamed Daimler AG.

The rescue plan would give Fiat a 20 percent share in the new Chrysler with a possibility of increasing that share to a controlling stake as early as 2013 as long as Chrysler repays its massive government loans by then. In return, Fiat will allow access to its technology to enable the U.S. car maker to make the smaller, greener cars that are increasingly in demand.


Complete Article Link:Financial Focus: What happens when a foreign company buys a U.S. business? by Redding Record Searchlight

Rick

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Communications Organization

Chrysler Group LLC Announces Changes to Communications Organization

Auburn Hills, Mich., Jun 29, 2009 -

Chrysler Group LLC today announced the following appointments within its Communications organization, led by Gualberto Ranieri, Senior Vice President - Communications.

Consistent with the new Chrysler Group organization structure, Communications will be aligned to further build the internal branding of the organization, and will create dedicated leads to the four key brands; Chrysler, Jeep®, Dodge and Mopar®.

* Lori McTavish is appointed Head of Internal Branding. Lori will lead the communications strategy for all internal stakeholders and retirees, working across the organization to continue building the passion around the company and our brands. In addition, Ms. McTavish will be responsible for the internal launch of World Class Manufacturing communications. Reporting to Ms. McTavish:
o Beth Ann Bayus, Lead for Internal Branding

o Dianna C. Gutierrez, Lead for World Class Manufacturing Communications

* Rick S. Deneau is appointed Brand Lead and Head of Chrysler Brand / Sales/ Network Development Communications. Mr. Deneau will lead Chrysler-brand communications, working in alignment with Peter Fong, President and CEO - Chrysler Brand and Sales. In addition, Mr. Deneau will also act as the Communications lead supporting the Brand and Commercial organizations.

Reporting to Mr. Deneau:
o Kristin S. Starnes, Lead for the Brand News Room.
* Todd R. Goyer is appointed Head of Jeep Brand / Product Planning Communications. Mr. Goyer will lead Jeep-brand communications, working in alignment with Michael Manley, President and CEO - Jeep Brand and Product Planning.

* David T. Elshoff is appointed Head of Dodge Brand / Marketing Communications. Mr. Elshoff will lead Dodge-brand communications, working in alignment with Michael Accavitti, President and CEO - Dodge Brand and Marketing.

* Bryan J. Zvibleman is appointed Head of Mopar Service and Parts and Customer Care Brand Communications. Mr. Zvibleman will lead Mopar-brand communications, working in alignment with Pietro Gorlier, President and CEO - Mopar Service and Parts and Customer Care.

* Shawn Morgan is appointed Head of Corporate Communications. Ms. Morgan will lead Chrysler Group company-related communications.

* William J. Dawson is appointed Head of Leadership Communications Support. Mr. Dawson will lead the development of all leadership communications material for the Chrysler Group senior leadership team.

* Ariel Gavilan is appointed Head of Markets Communications. Mr. Gavilan will lead all international communications for Canada, Mexico, Latin America and all other International locations.

Reporting to Mr. Gavilan:
o Mary E. Gauthier, Lead for Chrysler Canada Communications
o Manuel Duarte, Lead for Chrysler de Mexico Communications

* Carrie McElwee is appointed Head of Event, Service and Electronic Media Communications. Ms. McElwee will lead all press, product and special events and services including Web, electronic and social media.

Rick

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Chrysler's new design chief

Chrysler's new design chief, Brandon L. Faurote, is only 38! As The Motor Report reports,

REFLECTING the design and branding organisation of its Italian partner Fiat, Chrysler has given each of its three brands - Chrysler, Dodge and Jeep - their own design bosses, reporting to Senior Vice President of Product Design, Ralph Gilles. The new design heads are Brandon Faurote at Chrysler, Joseph Dehner at Dodge, and Mark Allen for Jeep. Faurote, the youngest of the trio at 37 [sic], was previously Vice President of advance design for international models, with the Dodge Neon, Chrysler PT Cruiser and the 1999 Jeep Cherokee in his folio.



Previously Faurote has not been the subject of heavy press, though we were able to piece together bits and pieces from a now-defunct Chrysler website and various other sources:

Brandon L. Faurote was born Aug. 30, 1970 in Canton, Ohio. He grew up loving to sketch and with an avid enthusiasm for cars. Faurote joined the Chrysler Group in 1993 after receiving his Bachelor of Fine Arts from the College for Creative Studies in Detroit, Mich. From June, 1993 to Jan., 1997, Faurote worked in Jeep design, working on all Jeep models but most notably, the 1999 Grand Cherokee.

He then transferred to Passenger Car Design from Jan., 1997- April, 2000, working to design the 2001 Chrysler and Dodge Minivans.

In April, 2002 Faurote was named to manage the Small Car mid-cycle development on vehicles that included the Dodge Neon, the Chrysler PT Cruiser and the Chrysler Sebring and Dodge Stratus coupes.

Faurote was Chief Designer - Advanced Product Design from Feb., 2003, leading the advanced design team to complete a series of concept vehicles and future products. He led the team that completed the Chrysler Firepower and Chrysler Imperial concept vehicles, both debuted at the North American International Auto Show. He was appointed Director - Advanced Product Design in Dec., 2004.

The key to coming up with good ideas is to stay current, says Faurote, who tries to keep up with the latest stuff. "Looking at trends in society, such as music, architecture and fashion, helps me keep on the cutting edge of design." From a design standpoint, Faurote predicts vehicles will become a blend of the organic and the crisp. "The focus will be on fit and finish quality and cleanliness of design."

LINK:Chrysler gets new, young design chief - Core77

Rick

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Smile Chrysler brands will each have own design chief

Chrysler brands will each have own design chief

July 2nd, 2009

As part of Chrysler Group’s shift to a brand-oriented structure, Chrysler, Dodge and Jeep will now have their own chief of design. All the brand chiefs will report to Ralph Gilles, senior v-p for product design.

At Chrysler, the design team will be led by Brandon Faurote. Faurote, 37, previously was v-p of advance design, international and color/trim. He worked on the Chrysler Firepower concept, Dodge Neon, Chrysler PT Cruiser, Chrysler Sebring coupe and the 1999 Jeep Grand Cherokee.

The Dodge team will report to Joseph Dehner, 44, who previously was v-p for production cars, minivans, truck and Jeep design. Dehner participated in the Chrysler Pacifica, Crossfire, 2007 Chrysler Sebring (sedan and convertible), 2001 Sebring and worked on the Stratus exterior.

Mark Allen, 46, will head up the Jeep team. It won’t be a major change for Allen who was formerly chief of Jeep and Dodge truck design. Among his credits are the 2009 Dodge Ram 1500, 2010 Dodge Ram Heavy Duty and the hit 2006 Jeep Wrangler.

Thanks Again to Allpar

LINK:http://www.allpar.com/news/index.php...-design-chief/

Rick

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