August 07, 2007
“It’s an amazing redemption”
Posted by Gordon Smith

That's what Michael Useem said about the appointment of Robert Nardelli as the CEO of Chrysler. (NYT) Considering Nardelli's exit from Home Depot in January, many commentators have been second-guessing the choice of Nardelli (see, e.g., W$J and FT). If this were a public company, I suspect that many investors would be screaming at the board of directors about how Nardelli knows nothing about cars. But Chrysler isn't a public company, and Nardelli's old boss, Jack Welch, thinks Nardelli is a "perfect fit" for Chrysler.

You may disagree. You may not like Nardelli. But you have to concede that Cerberus has every incentive to get this right.

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