A lackluster tenure at Home Depot (HD) didn’t prevent Bob Nardelli from getting the top job at Chrysler, so why should his failure at Chrysler prevent him from doing anything?
Apparently his corporate master at PE firm Cerberus (which owned Chrysler, before its bankruptcy and sale to Fiat) were sufficiently impressed with his skills, that they wanted him back in The Family.
Cerberus Capital Management, L.P. (“Cerberus”), one of the world’s leading private investment firms, today announced that Robert Nardelli has rejoined the company as Chief Executive Officer of Cerberus Operating and Advisory Company LLC (“COAC”). Mr. Nardelli previously served as Chairman and Chief Executive Officer of Chrysler LLC. In his new role, Mr. Nardelli will be responsible for the supervision and oversight of the management and operations of the portfolio companies in which the funds and accounts managed by Cerberus and its affiliates are invested. Mr. Nardelli will also join Cerberus’ investment committee and valuation committee, and will be integrally involved in significant due diligence projects relating to prospective investments.
COAC is comprised of seasoned operating professionals that assist with sourcing, due diligence and portfolio surveillance. COAC members also serve as advisors and board members for Cerberus portfolio companies and are available to take interim or full-time positions with portfolio companies.
No doubt his Lean-Six-Sigma-Black-Belt skills be useful all over the Cerberus portfolio, and who knows, he may even end up as CEO of one of the companies, if we’re reading the announcement right.
Business Insider Emails & Alerts
Site highlights each day to your inbox.