Robert Nardelli appointed chief executive of Chrysler LLC

Cerberus Capital Management has announced that they are appointing former Home Depot Inc. Chief Executive Robert Nardelli as the new chairman and chief executive of Chrysler LLC.

This announcement comes after they completed the acquisition of the struggling automaker from DaimlerChrysler.

Cerberus further said that Tom LaSorda would continue to work in the company as the president and vice-chairman.

He would also be continuing talks with the United Auto Workers union.

Nardelli had this to say about his new appointment: “Chrysler has many deeply talented and dedicated people, and I am confident that together we can continue the momentum of Chrysler’s recovery and return this great American icon to a path for global growth and competitiveness.”

Erich Merkle, an auto industry analyst with IRN Inc. had this to say about this announcement: “This is an interesting choice, and I’m somewhat perplexed by it. There are still things that Chrysler needs long term and I’m not sure Nardelli can provide them.”