Chrysler LLC sought to overturn the criticism for Bob Nardelli's appointment as CEO with a surprise new executive: the U.S. automaker has managed to snatch a top executive from its archrival Toyota. He is James Press, the former president and chief operating officer of Toyota Motors North America, who has been with the Japanese carmaker for some 37 years. He oversaw Toyota in the U.S. as it soared to the second place in car sales. James Press, 61, will have to share the vice-chairman and president roles with the smooth Tom LaSorda, the former CEO of Chrysler. "Part of my new responsibilities will be strengthening and energizing the dealer body," Press said in an official statement. "This is something I was passionate about at Toyota and will be passionate about at Chrysler." It's quite clear that James Press is most valuable and a welcome addition to Chrysler's management team. However, it remains to be seen how he will get along with the controversial Nardelli. Cerberus Capital Management L.P. appointed Bob Nardelli in early August as Chrysler's Chief Executive Officer, triggering the leave of some top people from the troubled automaker. Nardelli, 59, served as CEO of Home Depot beginning in 2000 before stepping down in January this year, with a $210 million bonus. The former Chrysler COO Wolfgang Bernhard, who had worked with Cerberus on the acquisition and was expected to be named chairman, suddenly left Cerberus in the days following Nardelli's appointment for "family reasons." Eric Ridenour, Chrysler's young and up-and-coming COO, has also left. Analysts have slammed the decision to bring an outsider to Chrysler as a very poor decision, especially because it concerns Nardelli, who is said to have the tact of a Marine drill instructor. He left Home Depot in a cloud of criticism and anger from shareholders.
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