Chrysler to Shut Down Most Manufacturing Operations While Bankruptcy Proceeds

Things didn't work out so well for Nardelli, as TheDetroitBureau.com previously predicted, even though he was singled out for praise by the Admininstration. "Chrysler's management, and in particular, its CEO, Robert Nardelli, have played a positive and constructive role throughout this process," President Obama said. Nardelli, who has been leading Chrysler since August 2007, also announced to Chrysler LLC’s Board of Management and the U.S. Treasury his plan to leave the company following the emergence of the new company from Chapter 11 and the completion of the alliance with Fiat. He will return to Cerberus Capital Management LP as an advisor.