May 1, 2009, 5:57pm ET

Chrysler Chairman Tom LaSorda announces retirement

Tom LaSorda, Vice Chairman and Co-President of Chrysler, has announced he will be stepping down from his position, effective immediately. News of LaSord's retirement comes just one day after Chrysler CEO Bob Nardelli announced he would be resigning from Chrysler once the automaker emerged from Chapter 11 bankruptcy.



LaSorda, who was appointed to his position in 2007, was in charge of Chrysler's Manufacturing, Procurement and Supply, Employee Relations, Global Business Development and Alliances. LaSorda was named President and CEO of Chrysler in 2005. LaSorda joined Chrysler in 2005 as the company's Chief Operation Officer.



During his time at Chrysler, LaSorda championed Jeep's Toledo Supplier Park in Ohio, which was recently named the most productive assembly plant in North America.

