11:06 PM
Business consultant Robert Kidder is set to become the new chairman of Chrysler Group when it emerges from bankruptcy. Kidder, 64, will replace Bob Nardelli, who was hired in 2007 after Daimler sold Chrysler to private equity group Cerberus.
A new board of directors, to be formed after bankruptcy, will hire a new CEO for Chrysler. But that position is expected to be filled by Sergio Marchionne, CEO of Fiat.
Kidder's résumé includes a stint as CEO of Duracell. He currently is a lead director at investment firm Morgan Stanley and CEO of 3Stone Advisors of Columbus, Ohio, which manages a private equity fund focused on investing in water-quality testing.
