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Chrysler One Year Later

Marchionne outlines challenges in an internal e-mail.

by on Jun.11, 2010

Profits are still elusive.

Chrysler CEO Sergio Marchionne sent an e-mail today to surviving employees on the anniversary of its emerging from a “quick rinse” bankruptcy one year ago.

The company is still losing money and is struggling with an aging product line, poor quality and numerous recalls.

However, Marchionne takes a cautiously optimistic tone in a communication that would obviously find its way into the media.

Below is the memo:

Dear Colleagues,

Today marks the first day of our second year as a new company. Chrysler Group LLC in fact began operations on June 10, 2009, and when I met with you on that day, I expressed confidence that Chrysler would once again be a strong and competitive car maker.

It's Free!

Crisis can bring out the best in a company and its people. Rather than yield to pessimism, our organization has moved forward with a renewed sense of purpose to succeed. Through hard work and tough choices, we made significant progress during the past 365 days.

Among the highlights: