Chrysler names six new board directors

Mon, 16 Jun 2014

Executives may call the shots day-to-day at the world's leading automakers – much as they do at any other corporation – but the ultimate decision-making body remains the board of directors. And Chrysler has just named six new members to its board.

The appointments include Hermann Waldemer, the former CFO of Philip Morris International – the tobacco giant whose Marlboro brand has funneled untold billions into Ferrari as the Scuderia's title sponsor for decades, and on whose board Fiat-Chrysler CEO Sergio Marchionne sits. Waldemer replaces Doug Steenland, who came to the Chrysler board after Northwest Airlines (at which he served as CEO) merged with Delta, and whose term on the board expired just days ago.

In addition to the Waldemer appointment, Chrysler has expanded its board with five more seats, all filled by existing group executives. Among them are Reid Bigland (head of US and Canadian sales and of the Ram truck brand), Fiat general counsel Giorgio Fossati, human resources director Michael J. Keegan, Jeep CEO Michael Manley, and group CFO Richard Palmer.

The announcement was made retroactively after the directors assumed their seats on the board on June 10 – the same day that Steenland's term expired. Pictured above are the outgoing boards of Chrysler and Fiat during a joint meeting at Chrysler House in downtown Detroit last year.

Chrysler Group Names New Directors
June 13, 2014 , Auburn Hills, Mich. - Chrysler Group LLC today announced several changes to its Board of Directors.

Hermann G. Waldemer has joined the Chrysler Group board. Most recently, he served as Chief Financial Officer of Philip Morris International. Waldemer replaces Douglas Steenland who leaves the Board at the expiration of his term. Steenland was appointed to the Board in July 2009.

In addition, the Chrysler Board has increased in size to 13 members and now includes the following executives:

Reid A. Bigland, Head of U.S. Sales, Chrysler Group LLC; Chairman, President and Chief Executive Officer, Chrysler Canada Inc.; President and Chief Executive Officer, Ram Truck Brand, Chrysler Group LLC, and member of Fiat S.p.A. Group Executive Council (GEC), the highest executive decision-making body within Fiat outside of its Board of Directors;
Giorgio Fossati, General Counsel, Fiat S.p.A.;
Michael J. Keegan, Senior Vice President – Human Resources and Corporate Sustainability Officer, Chrysler Group LLC and GEC member;
Michael Manley, President and Chief Executive Officer – Jeep Brand, Chrysler Group LLC; Chief Operating Officer for Asia Pacific (APAC) and Lead Executive for International Operations, Chrysler Group LLC and GEC member; and,
Richard K. Palmer, Chief Financial Officer, Chrysler Group LLC; Chief Financial Officer, Fiat S.p.A. and GEC member

"I welcome this group of strong leaders to the Board," said Chrysler Group Chairman and Chief Executive Officer Sergio Marchionne. "Their collective experiences will help propel us forward as we begin to execute our five-year plan.

"I also want to thank Doug for his leadership while serving on the Chrysler Group board for the past five years. His contributions have helped shape the Company to where it is today and we wish him well."

All appointments were effective June 10, 2014. All other directors continue in office.

About Chrysler Group LLC
Chrysler Group LLC, formed in 2009 to establish a global strategic alliance with Fiat S.p.A., produces Chrysler, Jeep, Dodge SRT, Ram, FIAT and Mopar vehicles and products. With the resources, technology and worldwide distribution network required to compete on a global scale, the alliance builds on Chrysler Group's culture of innovation, first established by Walter P. Chrysler in 1925, and Fiat's complementary technology that dates back to its founding in 1899.

Headquartered in Auburn Hills, Mich., Chrysler Group's product lineup features some of the world's most recognizable vehicles, including the Chrysler 300 and Town & Country, Jeep Grand Cherokee, Dodge Dart, Ram 1500, Dodge Viper SRT and Fiat 500. Fiat contributes world-class technology, platforms and powertrains for small- and medium-size cars, allowing Chrysler Group to offer an expanded product line including environmentally friendly vehicles.

By Noah Joseph