News of Chrysler CEO Bob Nardelli's departure has been making the rounds recently, but now the resigning chief has shed some light on the matter. Unlike his former counterpart at General Motors, Nardelli insists that he was not asked by the Obama administration to step down from the helm at Chrysler.

In a pragmatic decision, Nardelli explained to Automotive News that it was now "an appropriate time to let others take the lead in the transformation of Chrysler with Fiat". Whether this was a subtle nod towards rumors that Fiat CEO Sergio Marchionne could be gunning for the top spot remains uncertain, but such an outcome would certainly not surprise us considering the Italian exec’s proven track record of fixing up flailing companies.

But Marchionne's appointment is not set in concrete, and there could be competition from remaining Chrysler executives, such as vice chairman Tom LaSorda. Furthermore, the final decision as to Chrysler's new leadership is expected to be decided by a new board of directors appointed jointly by the federal government and Fiat. The new board of directors is expected to consist of nine members in total, six chosen by the government and three chosen by Fiat.