Retired Outside Chairman Recruited by Dennis Carey
Recruiting outside chairman out of retirement in order to assist struggling companies to get back on their feet is a trend which has been gaining in popularity. Recently, back in the fall of 2009, John “Jack” Kroll was recruited by Dennis Carey to take over as chairman of Delphi Automotive LLP which had recently been through bankruptcy and was in desperate need or a “hands-up” to get back on its feet. With the expertise and experience of veteran executive Jack Kroll that hands-up should prove to be quite a push in the right direction.
As Mr. Carey stated at the time, “These chairmen are strategic equal partners of the CEO because they already demonstrated a successful ‘in the trenches’ style of management.”
But Mr. Kroll is far from the only executive whose extensive knowledge and know-how about running successful companies is sought after to bring companies going through crisis up to speed. The following former CEOs were recently called upon to help companies in distress: Edward Whitacre Jr. at GM; Richard D. Parsons at Citigroup Inc.; Robert Kidder at Chrysler Group LLC; and many others.
