Pentastar returns

Last Friday, August 3 2007, was marked as the New Chrysler's first day where it reinstated the Pentastar logo and launched the “The Next 100 Years” ad campaign. Investment group Cerberus has taken reign of the car manufacturer, although Mercedes-Benz still holds 19,9% of the stocks. Cerberus has put ex-Home Depot CEO Nardelli at the helm with Tom LaSorda as his right-hand man. Tom LaSorda: “Bob has a proven track record of success and an unwavering focus on performance, and brings deep operational experience and a broad industry background to Chrysler. His background in operations will provide valuable knowledge as we continue Chrysler’s turnaround.” Chrysler sees the Outside North-America markets (mainly Europe and China) as key in their Recovery and Transformation Plan and intends to launch eight new vehicles in these markets. Another key point is to shift the vehicle mix to more smaller and fuel-efficient cars, where Chrysler has already signed a deal with Chinese manufacturer Chery for small and subcompact cars for initially North America and Europe.

New Chrysler Looks to Future