Chrysler Group Expands Board to 13 Members

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Chrysler Group in Auburn Hills announced today the expansion of its board of directors to include 13 members as well as the replacement of another board member.

Hermann G. Waldemer, former CFO of Philip Morris International, will replace Douglas Steenland, one-time president and CEO of Northwest Airlines, following the recent expiration of Steenland’s term, and will be joined by five other new members, including Reid A. Bigland, Chrysler Group’s head of U.S. sales.

Also new to the board are Giorgio Fossati, general counsel for Fiat S.p.A.; Michael J. Keegan, Chrysler’s senior vice president of human resources and corporate sustainability officer; Michael Manley, president and CEO of Jeep Brand; and Richard K. Palmer, CFO of both Chrysler and Fiat S.p.A.

“I welcome this group of strong leaders to the board,” says Sergio Marchionne, Chrysler Group’s chairman and CEO. “Their collective experiences will help propel us forward as we begin to execute our five-year plan.”

Marchionne also thanked Steenland for his leadership while serving on the board for the past five years. “His contributions have helped shape the company to where it is today and we wish him well.”

All appointments were effective Tuesday.

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