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Cerberus chief Snow backs Chrysler reform

The turnaround plan that Chrysler laid out in February was one of the key things that made it attractive to Cerberus Capital, the private-equity firm that will soon own it. And Chrysler will continue following that plan with its current leadership intact, says John Snow, chairman of Cerberus and former Treasury secretary, according to USAToday.

In a speech to the Detroit Economic Club Wednesday, Snow said that he plans to give Chrysler CEO Tom LaSorda the advice and money needed to successfully implement Chrysler's restructuring plan.

Posted by   at 9:43 AM to Chrysler | Permalink

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