Chrysler chief executive Robert Nardelli has said Tuesday he expects the automaker would be an independent company three years from now, and that Chrysler’s private-equity owners were not second guessing their acquisition.
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Nardelli, speaking at a conference in New York, said there are benefits to running Chrysler under private ownership rather than a public company, the Associated Press (AP) reported. He said it streamlines the decision-making process and sidesteps some of the second guessing that comes from equity investors and analysts.
AP noted that Cerberus said last week that it had not sold any of its stake in Chrysler after a published report said the firm had sold more than half its equity to investors including major banks and hedge funds in order to reduce its risk.
Asked what the end game was for Chrysler, Nardelli said that remains up to the owners – and shrugged off speculation he would have a role in such a decision.
“Strategic alternatives down the road is Cerberus’ deal,” he said at the conference. “That keeps me focused on running the company.”
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By GlobalDataAP said Nardelli told the Wall Street Journal in an interview on the sidelines of the conference that Chrysler “may have to go back and resize” production again in light of declining truck sales.
Nardelli also said the automaker was rushing to build a more international profile, most of which was lost with its separation from Daimler.
“We are scrambling, moving as aggressive as we can,” he said about striking international pacts in areas like China, Russia, India, Brazil and Canada. “We understand the speed at which we have to act.”
