Report: Chrysler's Press Is Out
By Bill Visnic August 21, 2009The Wall Street Journal reported Friday afternoon that Chrysler Group LLC Deputy Chief Executive Jim Press will leave the company sometime before the end of the year.
It had been widely speculated that the ever-optimistic Press -- who served as Chrysler president under majority ownership of Cerberus Capital Management LLC and prior to the company's Chapter 11 bankruptcy -- would leave not long after the company's post-Chapter 11 restructuring and resulting management control by Italy's Fiat S.p.A.
Press has been serving as special advisor to Fiat and Chrysler CEO Sergio Marchionne.
Marchionne already has been at work reorganizing Chrysler's executive ranks in a structure based on better supporting the company's Chrysler, Dodge and Jeep brands.
Neither Chrysler or Press would confirm the news. Press, prior to his Chrysler stint a longtime, high-ranking executive at Toyota Motor Corp., told the WSJ, "I don't think anything has been released about management changes."
LEAVE A COMMENT