11 November 2010

Chrysler CEO Says ‘Successful Transformation’ Is Under Way


Chrysler Group LLC, the U.S. automaker operated by Fiat SpA, has laid the “groundwork for a successful transformation,” the companies’ chief executive officer said today.

Sergio Marchionne, CEO of both Chrysler and Fiat, addressed workers in a message obtained by Bloomberg on the day the U.S. automaker raised its operating profit forecast for the year and said its net loss narrowed to $84 million in the third quarter.

“The changes we are bringing about are beginning to enter into the DNA of the company,” Marchionne said in the message. “You can tell by how the language and tone of conversations have changed, by the long hours people are working, and by the way teams form and function.”

Shawn Morgan, a Chrysler spokeswoman, confirmed the memo was sent.

“We knew when we began this reconstruction process that the road back would be a long one,” Marchionne said. “We’ve hit some key milestone and we’ve made progress in important areas. We have laid the groundwork for a successful transformation. I ask you to continue to have faith in your leadership.”

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