Take a Look at the 'New' Chrysler

Washington DC June 12, 2009; The AIADA newsletter reported that Chrysler took its first steps with Italy's Fiat Wednesday, signing a deal and unveiling the new leadership in charge of bringing the company out of bankruptcy and into the future.

CNN Money reports that while Fiat isn't putting any money into Chrysler, what Fiat does offer is technology, engineering, and vehicles that Chrysler can use.

That's about $10 billion that Chrysler says it doesn't have to spend on that stuff. For its part, Fiat gets to sell some of its more mainstream products in the U.S. market, including the reintroduction of brands such as Alfa-Romeo which haven't appeared on this side of the pond in decades.

Leadership changes include a deposed Bob Nardelli, Chrysler LLC's current chief executive and chairman. C. Robert Kidder, a former CEO of battery maker Duracell who was also once a consultant to Ford Motor Co. will replace him in the role of chairman of the board.

Fiat CEO Sergio Marchionne now assumes the Chief Executive role at the new company with Jim Press, formerly one of Chrysler's two presidents, as his Deputy CEO.

Click here to read more about the changes ahead as Marchionne takes the helm of Chrysler.