Goodbye Bob Nardelli, hello Sergio Marchionne. According to the Wall Street Journal, first quarter profit for Chrysler is $116 million, which represents the first profitable quarter since 2006. Click here if you have a WSJ subscription and want to read more.
I often like to poke fun at mergers and acquisitions, believing that many of them happen for reasons other than improved shareholder value. However, the Fiat-Chrysler marriage seems to be working well….at least for now.
Even though I put Marchionne in the title, we at TPS report believe that too much credit and blame goes to CEO’s, presidents, and other heads of organizations. So let’s remember the past, and not go overboard casting ol’ Sergio as a hero.