Bob Nardelli will be leaving Cerberus Capital Management, the private equity firm that famously owned Chrysler during the company’s 2009 bankruptcy. Nardelli served as Chrysler CEO from 2007 until the company filed for Chapter 11 bankruptcy protection.
Nardelli previously worked at General Electric and Home Depot as a senior manager. At Home Depot, Nardelli left amid slowing growth, and was then hired by Cerberus to help turn around Chrysler. Despite Nardelli’s failure, he remained in a top role at Cerberus, including a stint at the Freedom Group, which owns firearm brands like Remington Arms and Bushmaster. Nardelli was frequently criticized for his roles at Home Depot and Chrysler – he was once named as one of America’s worst CEOs of all time.