Robert Nardelli quits Freedom Group as CEO


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ilmonster
March 11, 2012, 11:56 PM
Saw in yesterdays Wall St. Journal that Robert Nardelli is resigning his post at Cerberus Group, specifically as the CEO of the Freedom Group which owns Remington, Marlin, DPMS, etc.

Bob was the failed CEO of Home Depot (although he got a great severance package) and Chrysler before he went to Cerberus. I'm guessing this can only be of benefit to Freedom Group as he stunk up the last two companies he was at!

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hardluk1
March 12, 2012, 10:11 AM
An probably more cash for him and some other company that he can screw up.

Tortuga12
March 12, 2012, 10:27 AM
Good! Hopefully they can start putting some money back in QC.

Ryanxia
March 12, 2012, 12:05 PM
We'll have to keep an eye on this, wonder what (if any) impact there will be on the companies they control.

Cesiumsponge
March 12, 2012, 12:43 PM
CEOs of large corporations sleep around and bounce from company to company. It is pretty typical. Things usually stay the same. Home Depot and Chrysler sucked before, during, and after his tenure.

JohnBT
March 12, 2012, 01:14 PM
One report I read said he will remain a primary advisor to the head of Cerberus.

John

TXSWFAN
March 12, 2012, 06:06 PM
Nardeli's golden parachute from Home Depot was close to a quarter billion. CEOs are like head coaches in the NFL. They move from city to city and stink up the place.

Sheepdog1968
March 12, 2012, 07:17 PM
Primary advisor is typically a meaningless title to provide a bit of saving fave. Ive seen this done before elsewhere. Given how poor the quality of Marlins had become im not sure he had a choice. Serves him right imo.

snakeman
March 12, 2012, 07:26 PM
Maybe Remington and Marlin will go back to being what they were when I used to like them. Maybe they will change that remrust finish and maybe marlin will make their wood look nice again.

Cesiumsponge
March 12, 2012, 07:49 PM
And maybe Chrysler will make good cars and Home Depot will hire competent staff? Not holding my breath.

snakeman
March 12, 2012, 07:52 PM
Me neither

12131
March 12, 2012, 07:56 PM
CEOs of large corporations sleep around and bounce from company to company. It is pretty typical...
No different from fired football coaches or baseball managers.

zorro45
March 12, 2012, 07:58 PM
With regard to the help at HD, it is just like your local gun store- it all depends on the individual. I was remodeling a bathroom many years ago and had a young man help me pick out all the stuff I needed, and the entire order down to the last washer and end cap for about $6000 of raw materials was perfect, and I did not have to go back for a single thing.
(OK, this has never happened once since, but it can happen!) I don't understand the business model where you would pay that much money to someone on the way out..

Old Dog Man
March 13, 2012, 12:55 AM
I certanly hope Rem. and the other brands under this umbrella get's their <deleted> togrther on quality control, as said before. Al

Spaceman Spiff
March 13, 2012, 03:35 AM
And maybe Chrysler will make good cars and Home Depot will hire competent staff? Not holding my breath.

yeah, the new grand cherokee, wrangler, dodge charger/chrysler 300 and challenger are just such bad cars! :rolleyes:

vtuck2
March 13, 2012, 03:41 AM
Quote:
"Maybe Remington and Marlin will go back to being what they were when I used to like them. Maybe they will change that remrust finish and maybe marlin will make their wood look nice again."

I don't mean to hijack or divert this thread. But you've given me too good of an opening to resist.

I'd be very grateful if somebody would give me a year range for the "good" Marlins. I only recently learned that Remington bought Marlin when somebody commented about Marlin's quality having gone south. Since I happen to be in the market for a couple of 94 lever actions (.357 and .44) I would appreciate being educated about this. In fact, if I had my preference I would get one that didn't have the cross bolt safety. Can anybody tell me when THAT came about?

Thanks,

Vernon

Cesiumsponge
March 13, 2012, 12:45 PM
yeah, the new grand cherokee, wrangler, dodge charger/chrysler 300 and challenger are just such bad cars!

I'm actually a huge Mopar fan, especially E-bodies ever since a friend got me hooked with his collection and I've owned two of their products in the past. Yet I'm objective enough to do research and pay a small fee for access to services like Consumer Reports. If I had to by domestic, it would be Ford.

Chrysler and Jeep has come in dead last on brand reliability on several occasions, an honor only held by the Hummer marque before we unsuccessfully tried to cast that off to China. It's only fairly recently that Fiat, the majority owner of Chrysler, has slowly improved reliability but it still falls shy of industry leaders. Certainly their products are better than their older versions, but its not much of an accomplishment until you at least put out a product that is better than the average. Who wants to buy an average product? It's ironic that it took the "Fix It Again Tony" company to improve quality of Mopar. This is after GM and Chrysler took money from our pockets to "fix" their failures.

Let see what CS reports...

Jeep Grand Cherokee: 71 out of 100 points the leader ranking 89

jeep Wrangler: 20 out of 100 points, the lowest in the midsized SUV category.

Dodge Charger, an insult to the Charger lineage, 71 out of 100. The leader in the sedan category ranking 92. 71 points is the lowest listed under this category.

Chrysler 300 scores 80 out of 100 in the upscale sedan category, as above 92 being top marks. This is reasonable.

Dodge Challenger, a car I was looking forward as a possible purchase, 67 out of 100 points in the sporty car category, the leader scoring 97. Handles like a slug. Ford and GM make superior handling competition.

Jorg Nysgerrig
March 13, 2012, 12:48 PM
Just a reminder, this isn't a car or a home improvement forum.

Beagle-zebub
March 13, 2012, 03:21 PM
Let's be fair to Chrysler here: they have been coming around, ever since ownership went to a bunch of non-American execs. :banghead:

Derek Zeanah
March 13, 2012, 03:26 PM
Bob Nardelli is a pretty competent guy, though he tends to demand that corporate culture change to suit his (former military) style. This may or may not work well in a given corporation. :)

I'm curious to see who will replace him.

JohnBT
March 13, 2012, 05:46 PM
Yeah, he held the CEO position at Freedom Group for 2 months. Guess it wasn't a good fit. He's certainly had his share of job troubles since GE skipped over him after Welch left. John

"Cerberus said Chan Galbato, a long-time Nardelli protege, would succeed him as CEO of Cerberus Operations and Advisory Company LLC, the consulting affiliate.

At Freedom Group, where Nardelli took over as CEO in January, Cerberus said George Kollitides would act as interim CEO of the firearms maker while a permanent successor is found."

www.reuters.com/article/2012/03/11/us-cerberus-nardelli-idUSBRE8290G220120311

godale
March 13, 2012, 08:41 PM
not that freedom group is a great thing but.... i believe remmy and marlins qc was going down before the merger

Paris
March 13, 2012, 09:29 PM
Chrysler was killed by Daimler, not by Robert Nardelli.

In 1998 Chrysler was the most profitable car company on the planet and had loads of cash on hand. That same year they formed a 50-50 partnership with Daimler but in the end Daimler took majority control.

Daimler proceeded to spend all of Chrysler's on hand cash on R&D for Mercedes cars, which during the period were known for poor quality, reliability and aging technology. Daimler also leveraged all the physical assets Chrysler had for cash, including factories, office buildings - even patents. Daimler sucked Chrysler dry and then, when there was nothing left to take - they sold them. Chrysler had no cash and was deep in debt and had spent half a decade pushing poorly designed and built German style Chryslers which weren't selling. There was nothing left.

Robert Nardelli stepped onto a sinking, burning ship. He put the fire out but didn't have enough wood to plug the holes. Chrysler sank, it would have with or without him.

Jorg Nysgerrig
March 13, 2012, 09:50 PM
See post #19.

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