Italian automaker Fiat took a 20% stake in Chrysler on June 10, 2009, saving the Michigan based automaker from bankruptcy. In the new deal, Chrysler is now Chrysler Group LLC. If fuel efficiency gals are met, Fiat may take up to 35% Fiat's CEO Sergio Marchionne will now be the CEO of Chrysler.http://money.cnn.com/2009/06/10/news/companies/chrysler_fiat/?postversion=2009061011
Ownership<ref>http://money.cnn.com/2009/06/10/news/companies/chrysler_fiat/?postversion=2009061011</ref>
Chrysler Group LLC is owned by:
- United Auto Workers Union: 55%
- U.S Government: 8%
- Canadian Government: 2%
- Fiat: 20% (later 35%)
Corporate Structure
CEO: Sergio Marchionne
Chairman: Robert Kidder, former CEO and Chairman of Borden Chemical and Duracell International
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References
Fast Facts
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Fact:
Chrysler filed for bankruptcy on April 30, 2009
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Fact:
The new organization is called the Chrysler Group LLC
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Fact:
Fiat allied with Chrysler on June 10, 2009
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Fact:
The company will have a nine member board
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Fact:
Four will be appointed by the U.S Goverment
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Fact:
One to be appointed by the Canadian government
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Fact:
One director to be named by the United Auto Workers Retiree Medical Benefits Trust
