Chrysler has announced that Robert Kidder will become its chairman when the company emerges from restructuring.
Kidder is a former Chairman of Borden Chemical and of Duracell International. He also serves on the boards of Morgan Stanley, where he is the lead director, Schering-Plough Corporation, and Microvi Biotech Inc. During a stint at McKinsey and Co, Kidder worked with a client in the automotive industry.
"We are most fortunate that Bob Kidder will lead the new company through its transformation," said Nardelli. "My number one priority has been to preserve Chrysler and the livelihoods of thousands of people who depend on its success.
"With his broad expertise serving on numerous world-class boards and his accomplished business background, Bob will provide the leadership and strategic counsel that will help to create a strong global competitor moving forward."
Kidder added: "I am pleased to join Chrysler at a time when Chrysler is poised to launch an exciting new era. I am confident that Chrysler will emerge from Chapter 11 a lean and powerful competitor."
Former CEO Robert Nardelli will return to Cerberus Capital Management LP as an advisor.
Kidder will work under a new CEO and board of directors, who will be appointed by the US government. The new CEO is most likely to be Fiat's Sergio Marchionne.