Chrysler LLC has hired away one of the architects of Toyota's success in North America and appointed him as president and vice-chairman of the company, the same titles as Tom LaSorda, who was stripped of the chief executive officer title at Chrysler last month.
Jim Press will join Chrysler after a 37-year career at Toyota and will be responsible for sales, marketing and product strategy, while Mr. LaSorda will maintain responsibility for manufacturing, labour relations and global business development and alliances.
The two presidents will report to Chrysler CEO Robert Nardelli, whose appointment in August represented effectively a demotion for the Canadian-born Mr. LaSorda.
The hiring of Mr. Press is an indication that Cerberus Capital Management LP, which took control of Chrysler last month, is moving to address the key issue at Chrysler — selling the vehicles it already has in the short-term. Coming up with new hits is a longer-term process.
"His job was to sell the metal Toyota gave him and he did a good job," one industry source said of Mr. Press. "Chrysler has to move the metal."
Mr. Press most recently served at Toyota Motor Corp. as president of the auto maker's North American operations.
During his 37 years at Toyota, the company grew to become the second-largest seller of vehicles in the United States, surpassing Chrysler and Ford Motor Co. and sitting now behind only General Motors Corp. in the world's largest market.
"I relish this new opportunity with the Chrysler team to be a part of the resurgence of a true American icon here and around the world," Mr. Press said in a statement.
Mr. LaSorda said in the statement that Mr. Press will hit the ground "sprinting" and that he looks forward to joining him in reporting to Mr. Nardelli.
© The Globe and Mail
