Restructured ‘Chrysler Group’ completes formation of new board


The new Chrysler Group Board will consist of nine members and will include new CEO Sergio Marchionne

The new Chrysler Group Board will consist of nine members and will include new CEO Sergio Marchionne

With Chrysler’s bankruptcy process now well and truly behind it, and the appointment of a new name and CEO taken care of, the final steps of the company’s restructuring are finally coming to head. Today the company announced the appointment of additional members to its board of directors, completing the nine-member board that will provide oversight to the Chrysler Group.

First and foremost is Sergio Marchionne, who is sitting as CEO of the company as well as CEO of Fiat and a board member as well. Next in line is C. Robert Kidder, who also sits as acting chairman of the board.

Joining Marchionne and Kidder are: Alfredo Altavilla, CEO of Fiat Powertrain Technologies; James Blanchard, former U.S. congressman and governor of Michigan; George F.J. Gosbee, chairman, CEO and president of Tristone Capital Inc.; Douglas Steenland, former CEO of Northwest Airlines; Scott Stuart, a founding partner of Sageview Capital LLC; Ronald L. Thompson, chairman of the board of Trustees for Teachers Insurance and Annuity Association (TIAA); and Stephen Wolf, chairman of R.R. Donnelley & Sons Co.

Importantly, Chrysler Group will remain a private company for now but the newly appointed board will focused on supplying the governance that would be expected of a public company – after all the public do have a great deal invested in the company thanks to auto industry bailout.

 
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