Thursfield Leaves Cerberus
date: July 13, 2007
SOURCE:Detroit News
Cerberus Capital Management LP, the buyout firm acquiring Chrysler, said David Thursfield has left as head of its automotive division.
Cerberus spokesman Peter Duda Thursday confirmed the departure of the former Ford Motor Co. executive and declined to comment further. Thursfield, 61, didn't return a call for comment. The Detroit News on June 1 first reported Thursfield may be leaving.
The departure comes as Cerberus is preparing to complete the $7.4 billion purchase of 80.1 percent of Auburn Hills- based Chrysler from DaimlerChrysler AG. The firm Wednesday reiterated it expects the deal to close this quarter. Thursfield was also involved in a Cerberus bid, later dropped, to invest in bankrupt parts maker Delphi Corp.
Chairman John Snow has been New York-based Cerberus's most visible executive regarding Chrysler. He said in a speech to the Detroit Economic Club Wednesday that the automaker's managers "are going to be allowed to run the business."
Thursfield retired from Dearborn-based Ford in 2004. He supervised international operations and earlier oversaw its European unit.