IBNLive.com: Breaking news from India

 

You are here: IBNLive » Business

Font Size A+A-

Chrysler CEO says he'll quit after bankruptcy

Associated Press

TimePublished on Thu, Apr 30, 2009 at 22:47, Updated on Thu, Apr 30, 2009 at 23:02 in Business section

TagsTags: Chrysler, Bankruptcy , Detroit

Read Comment | Post Comment

DOWN BUT NOT OUT: Robert Nardelli says he will step down after the firm emerges from bankruptcy.

DOWN BUT NOT OUT: Robert Nardelli says he will step down after the firm emerges from bankruptcy.


Ads by Google

ibnlive.com is on mobile now. Read news, watch videos
be a Citizen Journalist. Log on to m.ibnlive.com NOW!

Photogallery

Find us on Facebook | Join IBNLive community

Stay ahead with G-Talk Buddy | Click now!

Ads by Google
  
Print
Email

Detroit: Chrysler CEO Robert Nardelli says he will step down after the company emerges from bankruptcy.

President Barack Obama announced on Thursday that the automaker would file for bankruptcy protection after the government could not reach a debt-reduction agreement with creditors.

Nardelli says on the CNBC cable network that the Treasury Department did not ask him to resign. But he felt it would be an appropriate time to leave after bankruptcy.

Chrysler has signed a partnership deal with Fiat. Nardelli says the new company will be run by a nine-person board, with six picked by the government and three by Fiat. The board will pick a new CEO.

Nardelli became Chrysler's CEO when Cerberus Capital Management bought the majority of the automaker in 2007.

Ads by Google
Read Comment | Post Comment
Related Ads:

Read Comment | Post Comment

Copyright © IBNLive.com. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of IBNLive.com is prohibited.

About Us | Disclaimer | Careers @ IBN | RSS | Podcast | Contact Us | Feedback | Advertise With Us | Connect.in.com

© 2010 IBNLive.com India. All Rights Reserved. A Web18 Venture

CNN name, logo and all associated elements ® and © 2009 Cable News Network LP, LLLP. A Time Warner Company. All rights reserved. CNN and the CNN logo are registered marks of Cable News Network, LP LLLP, displayed with permission. Use of the CNN name and/or logo on or as part of CNN-IBN does not derogate from the intellectual property rights of Cable News Network in respect of them.