Would you do anything for a dollar? It seems that high flying auto executives just might. Just months after private equity interests purchased Chrysler the company has attracted some high flying execs from Toyota and the Lexus Division. Why would these folks leave their positions leading sales and marketing for the clear world leader? Ferrari I can see. A new breed of hybrid company, definitely. But Chrysler?
I am well aware that you have to start somewhere but this is no ordinary turnaround (as the headhunter has sold it). For me, it all starts with the product and as long as the products fail to meet the competitive standard (both design and quality wise) and the company is forced to cut costs and discount to move their product, the spiral will continue. It strikes me as a pretty daunting role. Not impossible, but there are there are 50 million other reasons why (at least reportedly in James Press’s case) the challenge was taken up and the private equity bet is that these people also believe they can do it!