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A spokesman from Penske Automotive Group has confirmed that Tom LaSorda, the former president of Chrysler LLC, has joined Penske to advise on a possible bid for GM’s Saturn brand.
Anthony Pordon, a spokesperson for Penske, confirmed a report that LaSorda had been hired as a consultant. LaSorda left Chrysler after it filed for bankruptcy on April 30. He had originally joined Chrysler as CEO in 2000, but was replaced by Robert Nardelli in 2007 when Chrysler was bought by Cerberus Capital Management. Prior to his stint at Chrysler, LaSorda had worked for GM, helping launch a joint venture between the American automaker and Suzuki.
Penske chairman Roger Penske has said that he is looking at opportunities for Saturn, but has not made an official bid. GM is working to offload the brand, which has failed to live up to sales expectations since its inception, rather than phase out all of its products by the 2010 or 2011 as initially planned.
Bloomberg also is reporting that Magna International is interested in Saturn as well, citing people familiar with the situation. A Magna spokesperson declined to comment on the report.
Source: Automotive News
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