Reinvent Chrysler, LaSorda says

Chrysler CEO Tom LaSorda

May 24, 2007

Chrysler CEO Tom LaSorda urged workers Wednesday to help reinvent Chrysler as a new company.

"Our corporate name will soon be Chrysler again. But we cannot -- and will not -- be the old Chrysler Corp.," LaSorda said in an e-mail.

Private equity firm Cerberus Capital Management announced last week it is acquiring Chrysler from DaimlerChrysler AG. Meanwhile, Chrysler is in the midst of a plan launched this year to return to profitability.

LaSorda said Chrysler must accelerate global growth, invest in products and brands, and look for global alliances.

"With the birth of the new Chrysler, we have a unique opportunity to truly reinvent ourselves for future success, while preserving the qualities that have set us apart from the competition: passion, speed, innovation and lean," he said.

He added: "The plan is in place, the uncertainty is gone and now it's time to execute. This is not about the past, but about our future. It's time to build a sustainable, global and profitable new Chrysler that will compete with the best in the world."

On Monday, he met with 400 employees to talk about the developments and the turnaround plan. During the meeting, LaSorda said: "The dealerships are ordering cars again, which is kind of nice."