Skip to main contentAccess keys help

[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Thursday, 6 September 2007, 15:03 GMT 16:03 UK
Toyota stalwart moves to Chrysler
Jim Press
Mr Press helped boost Toyota's US market share
The first non-Japanese member of the Toyota board is to leave the firm to become president of rival Chrysler.

Jim Press said that quitting Toyota after 37 years was "the most difficult decision" he had ever made.

The move comes after private equity firm Cerberus bought 80.1% of Chrysler for 7.4bn euros ($10.1bn; �5bn) from parent company Daimler.

Last month, the former boss of DIY store Home Depot, Bob Nardelli, was named Chrysler's president.

"We're thrilled that one of the most successful executives in the history of the auto industry has joined our leadership team at the new Chrysler," Mr Nardelli said.

Wider reorganisation

Mr Press was president of Toyota's North American operations and senior managing director at the Japanese carmaker.

As head of Toyota Motor Sales, he helped the firm boost sales from a 9.3% market share in 2000 to 13.1% in 2003.

"Jim has played a significant role in strengthening Toyota's presence in the US," said Toyota's president Kasugai Watanabe.

Chrysler - like other US car firms - has faced increasingly tough competition from Japanese companies that have developed smaller, more fuel efficient models.

The appointment of Mr Press and other executives comes as part of a wider reorganisation plan that is set to reduce the workforce by 13,000 in the US and Canada by 2009.

Chrysler is currently in talks with the United Auto Workers Union (UAW) over pay and benefits for its staff.


SEE ALSO
Cerberus buys Chrysler majority
03 Aug 07 |  Business
Debt crisis hits Chrysler buyout
26 Jul 07 |  Business
US to get Chinese Chrysler cars
04 Jul 07 |  Business
Cerberus to buy Chrysler majority
14 May 07 |  Business
Chrysler losses widen at Daimler
15 May 07 |  Business
Globalising the car industry
28 Feb 07 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

AmericasAfricaEuropeMiddle EastSouth AsiaAsia Pacific