With the ink not yet dry on its purchase, Chrysler LLC has named the controversial former Home Depot CEO Bob Nardelli as the new chairman and CEO of the automaker, according to a source familiar with the situation.
Nardelli, 59, served as the head of Home Depot beginning in 2000 before stepping down in January. He left the retailer with a $210 million bonus.
The move was a surprise for two reasons. First, Chrysler has been expected for several weeks to name former COO Wolfgang Bernhard to the top job. Bernhard was offered the title of non-executive chairman, but declined for personal reasons, according to the source familiar with the situation.
Second, Chrysler already had a CEO — Tom LaSorda. But the source told Automotive News that LaSorda will remain as vice chairman and president. The UAW and Ron Gettelfinger were consulted about the management moves, according to the source.