They hired who?!

by Patrice Sarath, August 6th, 2007, 2:19 pm

From the “What Were They Thinking?” file: Cerberus Capital Management hired Robert Nardelli to head up the new Chrysler.

Well … I guess he was available (although you have to wonder — was he their first pick?) After all, he left Home Depot under a cloud with a $210 million severance package that raised the eyebrows of the press and the ire of shareholders, whose investment in the building supply megachain had sagged like a waterlogged roof.

Talk about second chances though. Yeah, everybody deserves them, but this seems a little extreme. Maybe it would make more sense if Nardelli had automotive experience, but he doesn’t appear to.

It’s a highly visible position with a lot riding on it: his reputation, Cerberus’s bottom line, the future of an iconic automaker.

One thing is for sure — if he succeeds, then this hypothetical conversation might just take a very different turn.