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The new owners of Chrysler named Robert Nardelli, former Home Depot chief executive officer, as CEO of the auto manufacturer.
Nardelli resigned from Home Depot last January over his pay package and lackluster stock performance.
Cerberus Capital Management formally closed a deal last week to buy an 80 percent stake in Chrysler from DaimlerChrysler AG for $7.4 billion. Nardelli joined Cerberus as an advisor after leaving Home Depot.