Chrysler Group's New Board Includes Fiat Execs

After the recent announcement made by American manufacturer Chrysler that Bob Nardelli will be replaced with Robert Kidder, it was to be expected that Fiat will make its move. Now, sources familiar with the matter told Autonews that in the future Chrysler board, Fiat will bring at least two of its execs.

The two to be named on the board are Fiat's CEO, Sergio Marchionne and the CEO of Fiat Powertrain Technologies, Alfredo Altavilla. Marchionne will also act as the CEO of the company.

The board of Chrysler Group (as the new company will be called) will be headed, as we said, by the former Duracell CEO, Robert Kidder, who will act to protect US Treasury Department's interests. Alongside the two Italians, a group of independent people, as they were called earlier today, will also be named on the board.

In addition, Lucio Noto, the managing partner of Midstream, an investment company and former vice chairman of Exxon Mobil, will be appointed as an independent director. In addition, Noto also has a seat on the boards of Penske Automotive, IBM and Philip Morris.

These appointments were not yet officially confirmed, neither by Chrysler nor by Fiat. The rumor of Marchionne's role as a CEO has been around from some time now and it is remains a possible scenario.

As for the board, it is likely it will be subject for further additions. The American manufacturer said earlier today that the majority of the board members will be independent and will come from neither Chrysler nor Fiat.