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post #1 of 1 (permalink) Old 09-08-2011, 01:37 PM Thread Starter
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Sergio Marchionne is now Chrysler chairman

Sergio Marchionne is now Chrysler chairman

Fiat SpA (FIA.MI) Chief Executive Sergio Marchionne has been named chairman of the Chrysler Group LLC, the company said on Tuesday.

Chrysler said it named Leo Houle and John Lanaway as independent directors, effective immediately. The directors appointed yesterday replace Robert Kidder, George Gosbee and Scott Stuart, who have decided to resign.

Léo Houle was Chief Talent Officer of BCE Inc. and Bell Canada, Canada’s largest communications company, from June 2001 until his retirement in July 2008.

“It is with great pleasure that I welcome these respected and knowledgeable professionals to join our Board of Directors. Their leadership, insights and counsel will be invaluable in reinforcing our determination to achieve the financial targets outlined in our 2010-2014 Business Plan announced in November 2009,” said Sergio Marchionne, CEO of Chrysler Group LLC, who was elected Chairman of the Board.

The remaking of Chrysler’s board had been expected after Fiat took a 53.5 percent share of Chrysler in July by purchasing stakes held by the U.S. and Canadian governments. The governments had received stakes in Chrysler and the right to appoint directors after providing bailout loans.


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