Chrysler will be spinning-off the SRT performance badge into its own brand.

The news comes out of a management reshuffle that will see Ralph Gilles, president and CEO of Dodge, assume the new role of heading the SRT (Street Racing Technology) performance unit. Gilles will continue to head design at the Chrysler Group for all of its brands - Chrysler, Dodge, Jeep and Ram.

Taking over the reins as CEO of Dodge Car Brand will be Reid Bigland, who also heads U.S. Sales for Chrysler and will also keep the title of head of Chrysler Canada.

Gallery: SRT will become Chrysler's own performance brand

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