Bernhard Won't Join Chrysler Management
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SEE ALSO: Daimler Chrysler Merger, Historic Press Conference and Merger Details
STUTTGART, Germany, May 14, 2007; Reuters repoerted that former Chrysler chief operating officer Wolfgang Bernhard will not take an active role in helping to restructure the loss-making Chrysler Group once again, Cerberus Capital Management [CBS.UL] said on Monday.
"He will not join the management team at Chrysler," Chairman John Snow told a news conference. Bernhard had advised Cerberus on its purchase of a majority stake in Chrysler.
Bernhard, a highly respected manager within the industry, ran the Volkswagen Brand Group until the end of January.