Product Guru Wolfgang Bernhard To Become Chrysler Chairman

Wolfgang Bernhard, the product guru who pushed for the Chrysler 300C during his tenure at the company, is set to become the new chairman of the Chrysler Group when DaimlerChrysler's sale to investment fund Cerberus Capital Management is complete later this year. Germany's Manager Magazin reported the appointment Thursday on its Web site. Chrysler CEO Tom LaSorda will retain his job, it said. The final word on executive appointments may be handed down as early as today.

Bernhard, the former Volkswagen brand chief and former Chrysler chief operating officer, has been a key adviser to Cerberus in the acquisition phase. No word yet on whether any other former Chrysler executives who have been working as advisers to Cerberus will be named to any new posts. They include design chief Tom Gale and sales boss Gary Dilts.