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Fortune Published Interview with Chrysler's CEO Nardelli and Top Execs
04.04.2008
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 The Fortune published interview with Chrysler's CEO Nardelli and top execs LaSorda and Press on Cerberus and Chrysler's turnaround team. Cerberus Capital Management agreed last May to buy 80% of Chrysler from its German parent, then known as DaimlerChrysler. But by the time the deal closed in early August, global credit markets had convulsed and the U.S. economy was slowing down.It was too late to turn back, so Cerberus brought in a couple of managerial ringers: Robert Nardelli, a standout at General Electric who had gone on to run Home Depot for six tumultuous years, became CEO, and James Press, head of Toyota's U.S. operations, became a vice chairman and co-president. (Tom LaSorda of Chrysler stayed on as the other vice chairman and co-president.) Their mission: to make Chrysler profitable. So far they've axed models, consolidated dealerships, and announced 20,000 job cuts. The company lost $1.6 billion in 2007, but Nardelli says it met all the Cerberus metrics and is on plan for 2008. Chrysler's leadership troika talked recently with Fortune's Geoff Colvin about learning from consumers, improving quality, surviving against giant competitors, and much else. Here are edited excerpts.
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