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Bernhard to be Chrysler chairman

Christine Tierney / The Detroit News

Wolfgang Bernhard, a senior adviser to Cerberus Capital Management LP and former top Chrysler executive, will be the chairman of Chrysler's board after the sale of the U.S. automaker to Cerberus is completed, according to sources familiar with the situation.

Tom LaSorda will remain CEO of Chrysler, the sources said.

DaimlerChrysler AG, which is selling 80.1 percent of Chrysler but is retaining the rest, declined to comment.

Bernhard has been advising Cerberus and Chrysler since the sale was announced on May 14. He was Chrysler's chief operating officer from late 2000 to 2004 under then-CEO Dieter Zetsche and was credited with helping to turn the company around.

You can reach Christine Tierney at (313) 222-1463 or [email protected].
 
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