Earlier this month, we’re briefly touched on the subject of Chrysler’s board being shuffled around if a proposed partnership with Fiat goes through. However, today we’ll just say what may soon become inevitable. Chrysler’s current boss Bob Nardelli may be asked to step down by Fiat and the U.S. Treasury as the two will select a new round of board of directors, seeing Chrysler and Fiat do partner-up by the April 30th deadline.
In an e-mail to employees today, Nardelli said that he didn’t know what this means for him, but raises the possibility of Fiat’s CEO Sergio Marchionne taking over the steering wheel in Auburn Hills. Earlier this week, Marchionne said he would do whatever it takes to revive Chrysler, even takeover as CEO of the struggling automaker.
The biggest obstacle remaining between proceeding with the deal are the talks with the Canadian Auto Workers. Marchionne said earlier this week that Fiat would walk away from the proposed partnership if the CAW failed to erase a $19 gap between Chrysler’s hourly labor in Ontario and what Japanese automakers pay their Canadian workers. Talks will resume on Monday
– By: Omar Rana
Source: Free Press