Former Home Depot Chief Leads Chrysler

Aug. 6 (Bloomberg) -- Chrysler LLC named former Home Depot Inc. Chief Executive Officer Robert Nardelli as CEO, demoting Tom LaSorda, as new owner Cerberus Capital Management LP takes control of the automaker.

Nardelli, 59, a Cerberus adviser, also will become chairman, Auburn Hills, Michigan-based Chrysler said yesterday in a statement. LaSorda becomes president, while Chief Operating Officer Eric Ridenour will leave Chrysler and won't be replaced.