Former Chrysler CEO Nardelli Named Chair of Power Storage Maker

Former Chrysler Corp. Chairman and CEO Robert Nardelli has been named chairman of Ioxus Inc., an Oneonta, N.Y.-based maker of ultracapacitor-based power storage systems for the transportation sector.

Nardelli, 69, also is a former CEO for a unit of General Electric and CEO of Home Depot. He exited the latter job with a controversial $210 million severance package after a dispute with the board about his performance.

He took over as CEO of Chrysler Group when it was acquired by private equity firm Cerberus Capital Management in 2007 and led the carmaker until it filed for bankruptcy in 2009.