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Formation of Chrysler Group LLC Board Complete

July 07, 2009

AUBURN HILLS, MI - Chrysler Group LLC has appointed additional members to its Board of Directors, completing the nine-member Board that will provide oversight to the Chrysler Group. The Board is expected to hold its first meeting July 29, according to a statement by the automaker.

"The formal creation of our Board of Directors is another important step toward building a viable Chrysler Group for the long term," said C. Robert Kidder, acting chairman of the Board, in a statement. "Our board members bring a wealth of talent and experience in areas such as transportation, finance and investing, energy, and government. We will work together as a Board of Directors to support Chrysler Group's success to the benefit of all stakeholders."

Kidder, currently chairman and CEO of 3Stone Advisors LLC, was previously announced to the Chrysler Group LLC Board of Directors May 20. Joining Kidder on the board are:

  • Alfredo Altavilla, CEO of Fiat Powertrain Technologies.
  • James Blanchard, former U.S. Congressman and Governor of Michigan.
  • George Gosbee, chairman, CEO and president of Tristone Capital Inc.
  • Sergio Marchionne, CEO of Chrysler Group LLC and CEO of Fiat S.p.A.
  •  Douglas Steenland, former CEO of Northwest Airlines.
  • Scott Stuart, a founding partner of Sageview Capital LLC.
  • Ronald Thompson, chairman of the Board of Trustees for Teachers Insurance and Annuity Association (TIAA).
  • Stephen Wolf, chairman of R.R. Donnelley & Sons Co.

"While Chrysler Group LLC is a private company, the Board is focused on supplying the strong governance that would be expected of a public company," Kidder said. "We are looking forward to working as a single team to provide the oversight, guidance, and expertise that will help make Chrysler Group successful."

Chrysler Group LLC, headquartered in Auburn Hills, Mich., was formed this year from a global strategic alliance with Fiat Group. The group produces Chrysler, Jeep, Dodge, Mopar, and Global Electric Motors (GEM) brand vehicles and products.

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