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January 8, 2008 |
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CHRYSLER LLC: Simon Boag Named Global Alliance Operations EVP Chrysler LLC has named Simon Boag to the newly created position of Executive Vice President -- Global Alliance Operations, reporting to Vice Chairperson and President Tom LaSorda. Mr. Boag will lead the operations side of Chrysler's alliances which are designed to expand opportunities for global growth. "As outlined in the Company's Recovery and Transformation Plan, growth in markets outside of North America is critical to the success of Chrysler," said Mr. LaSorda. "We are looking for new alliances and growth opportunities all over the world." Mr. Boag joined Chrysler in April 2005 as Vice President -- Assembly and Stamping Operations. Following this assignment, he spent a year and a half as the head of Production Planning for Mercedes-Benz Passenger Cars, and most recently held the position of Executive Vice President -- Procurement and Supply. Mr. Boag also serves as the Co-Chairperson of ENVI, an organization within Chrysler that is responsible for the development of electric-drive vehicles and related advanced- propulsion technologies. In an additional announcement, the company appointed John P. Campi to the post of Executive Vice President -- Procurement, also reporting to Mr. LaSorda. In this role, Mr. Campi will be responsible for all worldwide purchasing and supplier quality activities. "John is a recognized leader in field of sourcing and cost management," said Mr. LaSorda. "His addition to the already strong Chrysler executive team further ensures that we have the talent and experience to succeed in even the most challenging of economic environments." Mr. Campi has more than 35 years of experience in the sourcing industry. Before joining Chrysler, he was President of Genesis Consulting Group, a company he founded. Mr. Campi and Genesis Consulting were hired as Chrysler consultants in October 2007. Previously, Mr. Campi led the drive for standardization and optimization of The Home Depot Global Supply Chain as its Senior Vice President of Sourcing and Vendor Management. Prior to joining The Home Depot, Mr. Campi served as Vice President for E.I. du Pont de Nemours & Co. and Chief Procurement Officer for Global Sourcing and Logistics. "Purchasing plays a critical role in cost management and building high-quality vehicles for our customers, and affects every facet of the company," said Mr. Campi. "My goal is to take a disciplined approach to purchasing and apply best practices learned from both within and outside of the automotive industry." Mr. Campi is a graduate of Indiana University with a bachelor's degree in Accounting. He also earned his master's degree from the Executive Program of the Weatherhead School of Management, Case Western Reserve University. Chrysler's Supply Operations -- which include Logistics, Packaging, Materials Handling and Production Scheduling -- will be realigned to report to Manufacturing under Joe L. Chao, Vice President -- Advance Manufacturing Engineering and Supply. Mr. Chao reports to Frank Ewasyshyn, Executive Vice President -- Manufacturing. About Chrysler LLC Headquartered in Auburn Hills, Michigan, Chrysler LLC -- http://www.chrysler.com/ -- a unit of Cerberus Capital Management LP, produces Chrysler, Jeep(R), Dodge and Mopar(R) brand vehicles and products. The company has dealers worldwide, including Canada, Mexico, U.S., Germany, France, U.K., Argentina, Brazil, Venezuela, China, Japan and Australia. * * * As reported in the Troubled Company Reporter-Latin America on Dec. 11, 2007, Standard & Poor's Ratings Services revised it recovery rating on Chrysler's US$2 billion senior secured second-lien term loan due 2014. The issue-level rating on this debt remains unchanged at 'B', and the recovery rating was revised to '3', indicating an expectation for meaningful (50% to 70%) recovery in the event of a payment default, from '4'. |
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