Chrysler deputy CEO Press to leave: sources
By: Kevin Krolicki and Soyoung Kim
Date Posted: August 21, 2009
News Source: reuters.com
DETROIT (Reuters) - Chrysler Group LLC Deputy Chief Executive Jim Press said he plans to leave by November, ending a two-year stint at the automaker that included its slide into bankruptcy, according to two people briefed on the still-confidential discussions.
Press, 62, was the only member of Chrysler's senior leadership team to remain with the company after a fast-track bankruptcy under the supervision of the U.S. Treasury.
His departure now would leave the No. 3 U.S. automaker without a sales chief or a visible top executive at a time when it is struggling to execute a turnaround and repay about $15 billion in emergency funding from the U.S. government.
The Wall Street Journal first reported Press's decision.
A former senior executive at Toyota Motor Corp (7203.T), Press joined Chrysler in 2007 shortly after it was acquired by its former owner Cerberus Capital Management LP.
Read the full article at reuters.com
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