TURIN, Italy -- Top managers from Fiat will run the reorganized Chrysler. But the U.S. Treasury, which is bankrolling the company, will have a strong voice, too.
Sergio Marchionne, 56, CEO of Fiat Group, will be CEO of Chrysler Group LLC, the name of the reorganized company, say sources here who are familiar with the matter.
Robert Kidder, former chairman of Borden Chemical Inc. and Duracell International Inc., will be chairman after Chrysler emerges from U.S. Bankruptcy Court, the automaker said last week.
Kidder, 64, will "protect U.S. Treasury's interests" in the new company, but day-to-day control will fall to Marchionne, a source told Automotive News.