Chrysler appoints new board of directors
- Source: Global Times
- [13:12 July 07 2009]
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By Shi Jierui
The new Chrysler Group LLC, now run by Fiat SpA, has a completely new board of directors after Douglas Steenland, former CEO of Northwest Airlines Corp. , was added to the board of nine directors.
The automaker, which June 10 emerged from bankruptcy, also added to the board former Michigan Gov. James Blanchard; George Gosbee, chief executive officer and president of Tristone Capital Inc.; Sageview Capital LLC founding partner Scott Stuart; Ronald Thompson, chairman of the board of trustees for Teachers Insurance and Annuity Association; and Stephen Wolf, R.R. Donnelley & Sons Co. chairman.
C. Robert Kidder, who was named acting chairman May 20, made the announcement in a statement Sunday. Fiat CEOr Sergio Marchionne and Alfredo Altavilla of Fiat Powertrain Technologies were previously named to Chrysler's board.
Kidder said the group will meet for the first time on July 29.
Chrysler Group is a new company created from the purchase of the bankrupt former automaker Chrysler LLC's best assets. Now called Old Carco LLC, Chrysler LLC is owned by Cerberus Capital Management LP and Daimler AG and went into bankruptcy on April 30. On June 10, it sold its best assets to Chrysler Group for $2 billion.