Ex-Chrysler CEO Bob Nardelli Leaving Cerberus
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.
More by Derek Kreindler
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For all of you referencing Home Depot and the downward spiral of that company due to Nardelli, you couldn't be more correct. +Infinity to you all.
Submarine Captain, or Italian Cruise Ship Captain?
Back in December of 2008, I was at Chrysler's pilot plant in Auburn Hills as the first of the new WKs were rolling through final checkout. Bob walked down to the floor and was given the keys to one of the first prototypes for the holiday break. I stood by and watched one of the engineers explain how things worked: "This is for your windshield wipers... this is for your headlights... this is for your turn signals..." It was that exact moment when I realized exactly how screwed Chrysler was. Love him or hate him, Sergio is no doubt a major improvement over the Cerberus clowns that they employed.
How do these asshats manage to stay employed? I keep getting into arguments on other internet forums with socialists about whether or not the rich deserve to be rich, whether they 'earn' their money.. then I see stuff like This Guy, and I become more convinced that it's not about skill or talent when it comes to these rarefied upper-strata of corporate executive leverage... it's about who saved who's blue-blood scion from drowning in his own vomit at a frat party back in their ivy-league days.