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Chrysler lures away key Toyota executive

Thu Sep 6, 2007 10:01am EDT

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DETROIT, Sept 6 (Reuters) - Chrysler LLC has named longtime Toyota Motor Corp (7203.T) North American executive Jim Press as a new vice chairman and president.

Press, who was president and chief operating officer of Toyota North America and a director of the Japanese automaker, will be responsible for Chrysler's North American sales, international sales, global marketing, product strategy, and service and parts, Chrysler said.

Press joins Tom LaSorda as a vice chairman and president, reporting to Chief Executive Bob Nardelli.

Press is the second outside executive to join Chrysler's senior leadership team after former Home Depot Inc (HD.N) CEO Nardelli was named to lead the automaker in August.

Also in August, Chrysler hired Deborah Wahl Meyer, former vice president of marketing for Toyota's luxury Lexus division, as its chief marketing officer.

Press joins Chrysler after 37 years with Toyota and two months after DaimlerChrysler AG (DAIGn.DE) sold a majority stake in the carmaker to private equity firm Cerberus Capital Management in a $7.4-billion deal.

"Part of my new responsibilities will be strengthening and energizing the dealer body," Press said in a statement. "This is something I was passionate about at Toyota and will be passionate about at Chrysler."

Meanwhile, Toyota named Shigeru Hayakawa to replace Press as president of its North American operations.

(Reporting by Poornima Gupta)

((Editing by Gerald E. McCormick; Reuters Messaging: poornima.gupta.reuters.com@reuters.net; email: poornima.gupta@reuters.com; tel:313-967-1901))

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