Chrysler chief to be jointly picked by Fiat, US govt

SOUTHFIELD: Chrysler LLC���s proposed alliance with Fiat SpA would usher in a new chief executive officer and a largely independent board picked by the Italian automaker and the US government.

The directors would appoint a chairman and name a new chief, ���with Fiat���s concurrence,��� CEO Bob Nardelli said in a letter to employees at Auburn Hills, Michigan-based Chrysler.

Fiat���s chief, Sergio Marchionne, said in an April 15 interview that he would be willing to run Chrysler if asked. Chrysler, propped up with $4 billion in federal loans, is seeking accords to trim labor costs and erase much of its secured debt so it can finish a Fiat tie-up by a government-set deadline of April 30. Chrysler may get as much as $6 billion in aid more if the Fiat alliance is consummated.

���It���s very plausible for Marchionne to be CEO,��� said David Cole, chairman of the Center for Automotive Research in Ann Arbor, Michigan.