UPDATE 2-Ex-Duracell CEO named new Chrysler chairman

Wed May 20, 2009 10:55pm BST
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* New Chrysler chair former Duracell CEO, Ford consultant

* First director appointed to new Chrysler-Fiat board

* Kidder will be first of four U.S. gov't appointees (Adds more details about Kidder)

DETROIT, May 20 (Reuters) - Robert Kidder, a private-equity investor and former consultant who once worked for Ford Motor Co (F.N: Quote, Profile, Research), will become the chairman of Chrysler Group once the automaker emerges from bankruptcy and completes a merger with Italy's Fiat SpA, the company said on Wednesday.

Kidder, who was also the chief executive of battery maker Duracell, also serves as the lead director of Morgan Stanley (MS.N: Quote, Profile, Research) and a board member at Schering Plough Corp.SGP.N

He will succeed Chrysler's Bob Nardelli, who is stepping down as the bankrupt automaker's chairman and chief executive.

Fiat Chief Executive Sergio Marchionne is expected to assume management control of Chrysler when key assets from its operations are sold out of bankruptcy protection to a new operating company in the coming weeks under a deal financed and brokered by the Obama administration.

Kidder's appointment was the first announced for the nine-member board that will oversee the new company. The U.S. Treasury will appoint four of those directors while Fiat will appoint three board members.

Kidder, who will help steer the search for other Chrysler board members, will count as the first nominee for the U.S. government on the board.  Continued...

 
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