Cerberus Capital Management, one of the two leading contenders to buy the Chrysler Group, has hired former Chrysler COO Wolfgang Bernhard as a consultant. Cerberus and private equity firm Blackstone Group have emerged as front runners in the bids for Chrysler.

As a former executive at Chrysler, Bernhard was one of the primary architects of Chrysler’s short-lived rebound earlier this decade. He could be an asset to Cerberus’ potential bid with his knowledge of Chrysler’s strengths and weaknesses.

Bernhard was most recently at Volkswagen before leaving during the automaker’s management shake-up. Bernhard joined VW after he was dropped at DaimlerChrysler in 2004 just before he was about to take over the Mercedes Car Group. Don’t be surprised to see Bernhard running the Chrysler Group if Cerberus ends up as the next owner of the automaker.

## Source: Automotive News ##

Posted in: Chrysler, DaimlerChrysler, Business, News, Industry
RSS 2.0 Feed | Comments | Permalink |  Email This Post