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Chrysler snags Toyota’s golden child Jim Press

Posted on Thursday 6 September 2007

Chrysler has announced today that Toyota’s North America President Jim Press will be heading to Auburn Hills to become the carmaker’s new co-president and vice chairman. We don’t normally report on executive shuffles within the auto industry but Chrysler snagging Jim Press is a major coup for the rejuvenated carmaker and a serious thorn in the side of Toyota. Press was recently announced as the first non-Japanese exec to be inducted to Toyota’s board of directors after showing impressive results in the US, the carmaker’s most important market.

Press will share the title of president and vice chairman with former CEO Tom LaSorda, who was recently demoted to the position after Robert Nardelli took over the reigns of the now private company. He will be in charge of all sales, marketing, product strategy, parts and service around the world, while LaSorda will focus on manufacturing and operations, reports the Detroit Free Press.

This is the second Toyota exec bagged by Chrysler in the past month. Chrysler also managed to pick up Lexus marketing vice president Deborah Wahl Meyer as its new chief marketing officer. via motorauthority

Wow that was unexpected

So it looks like they won't hire many more Americans to the board huh? :p

Wow, this is a HUGE HUGE blow. He was the first American on the board and Motor Trend has a huge article on him recently.

Did not see this coming at all!!

This might not be good. Could this be a bad move for Toyota? Why did Jim Press leave Toyota? Maybe he wasn't a good fit on the board? Cultural differences? Makes me wonder...

maybe he wanted a new challenge, he got bored being near the top

[Source: Chrysler]

September 6, 2007

AUBURN HILLS, MICH. – Chrysler LLC Chairman and CEO Robert Nardelli today announced the appointment of James Press as Vice Chairman and President. Press, who was President and Chief Operating Officer of Toyota Motors in North America Inc. and a Director of the parent company, will now be responsible for North American Sales, International Sales, Global Marketing, Product Strategy, and Service and Parts for Chrysler LLC.

"Tom LaSorda and I are thrilled that one of the most successful executives in the history of the auto industry has joined our leadership team at the New Chrysler," said Nardelli. "Our top team now consists of a world-class 'supply' leader in Tom and an equally world-class 'demand' leader in Jim."
"I've known Jim for many years and know that he will hit the ground sprinting," said LaSorda. "I look forward to partnering with him and Bob as part of the Office of the Chairman."

Press joins LaSorda as a Vice Chairman and President, reporting to Nardelli. LaSorda's responsibilities will continue to include Manufacturing, Procurement and Supply, Employee Relations and Global Business Development and Alliances.

"I am grateful for the support and opportunities I received during my three-plus decades at Toyota," said Press. "I relish this new opportunity with the Chrysler team to be a part of the resurgence of a true American icon here and around the world. Part of my new responsibilities will be strengthening and energizing the dealer body. This is something I was passionate about at Toyota and will be passionate about at Chrysler."

Press joins Chrysler after 37 years with Toyota, where he most recently served as the first non-Japanese President of Toyota Motor North America Inc., responsible for sales, engineering and the company's 15 manufacturing plants with 41,000 employees in North America. He was also the first non-Japanese executive selected to the Board of Directors of Toyota Motor Corporation.

During his tenure at Toyota, the company grew from an upstart new company selling 100,000 vehicles per year to the second largest auto company in the United States.
Press becomes a member of the Chrysler LLC Board of Directors and the Board of Managers of Cerberus Operations and Advisory Co. (COAC), LLC. Press joins LaSorda as Vice Chairman of COAC.

maybe he wanted a new challenge, he got bored being near the top

Jim Press wasn't near the top of Toyota, he's now further to the top of Chrysler. Toyota North America is a subsidiary of the parent company Toyota which is based in Japan. The current president and chairman of Toyota is Mr. Katsuaki Watanabe. Jim Press was close but still had a long way to go...

Chrysler lures Toyota's top U.S. executive

Chrysler LLC has hired Jim Press, Toyota's highest-ranking U.S. executive and a member of Toyota's board of directors.

Press was appointed Chrysler Vice Chairman and President, Chrysler said today. He will hold the titles jointly with current Chrysler Vice Chairman and President Tom LaSorda.

Press, expected to officially join Chrysler on Sept. 17, will oversee North American sales, international sales, global marketing, product strategy, service and parts for Chrysler LLC.

Press joined Toyota Motor Sales USA Inc. in 1970 and has been a key driving force behind Toyota's U.S. operations for 37 years.

"Toyota has been the centerpiece of my life," said Press in a statement issued by Toyota. "This was the most difficult decision I have made but I am truly looking forward to an exciting new chapter in my career."

The hiring coup comes little more than a month after Chrysler reverted to a private company under new owners Cerberus Capital Management LLC, which closed its $7.4 billion deal for an 80.1 percent stake in the Auburn Hills auto maker. Previous owner DaimlerChrysler AG will retain a 19.9 percent share in the company.

Press and LaSorda will report to Bob Nardelli, the former Home Depot head hired last month by Cerberus as Chrysler's new chairman and chief executive.

Strong move!

hope this works of good for toyota north america / lexus

Huge changes!!

At least Chrysler knows where to get the goods. Toyota needs to make sure that his replacement can handle the task. Jim Press was a bit arrogant with Toyota/Lexus products (unlike the more reserved and conservative Japanese) and I hope Toyota finds a good balance in the future...

This might not be good. Could this be a bad move for Toyota? Why did Jim Press leave Toyota? Maybe he wasn't a good fit on the board? Cultural differences? Makes me wonder...

Why did he leave?? He is 60 years old, recently remarried, and was spending two weeks a month in Japan. He had no real power over the Board, who were all Japanese. Did he really need that hassle? Probably not. At least this keeps him closer to home. Frankly, after all those years at Toyota you would think he would just retire and live out his years as a wealthy man. But there is always the carrot for more power and more money for Type A individuals. I'm sure the compensation package offered was sweet.

Will be interesting to see how Press, who knows the long term strategy style of Japanese business, will be able to work with Nardelli who is typical 'look to the next quarter' type businessman. Cerberus Capital will want payback quick on their purchase. Press' style is to view the business as a long term development. I see clashes ahead for Press, and they won't be in his favor.

Complete surprise to me. I wonder if Toyota allowed Chrysler to snag him because he was getting old.

Wow, this is a HUGE HUGE blow. He was the first American on the board and Motor Trend has a huge article on him recently.

Did not see this coming at all!!
Neither did I! I was stunned when I read that.

Interesting how many car companies look up to Toyota as the role model to emulate in just about every way possible, but the newly independent private corporation that is Chrysler goes a step beyond that and hires away a couple of key people from Toyota/Lexus. Remember that one of Chrysler LLC's first moves was to hire away Lexus' former top marketing executive, Deborah Wahl Meyer, now Chrysler's vice president and chief marketing officer.

Chrysler's hiring Jim Press almost sounds like poetic payback for Bob McCurry's joining Toyota after 28 years at Chrysler. McCurry was the first American to help lead Toyota to its current prominent position in the North American automotive landscape, and thus blazed the trail that Jim Press followed.

Oh man....!!!!! He did the press conference when the LS 460 L was released!!!!

From a PR perspective this is a huge departure from Toyota. From an insider corporate perspective, who knows. I do agree it does probably mean he can stay all-American and not Japanese...and there is precedent, after the successful launch (or around it) of Lexus, one of the top TMS execs defected to one of the US Big Three.

He will be missed at Toyota...I wish he hadn't left, but Toyota has a lot of executive talent and perhaps someone will eventually become the next 'elder statesman' of TMS.

This change is best summed up, at least so far as I've seen, by this Toyota insider/consultant:

http://elegantsolutions.typepad.com/elegant_solutions/

You couldn't ask for a better sales/marketing operating exec than Press. He's the best car salesman on the planet, bar none. Dealers love him, because he does one thing extremely well: make them money. The Nardelli/Press combo -- Press is to be Vice Chairman and President -- is going to be powerful. Jim knows the Toyota Way, and most importantly, was able to take the "Japanese" version (detailed in Liker's book) back in 2001 and make it the U.S. version. We (TMS) had 45 years of success, and we didn't view the world the same way Japan did. He made it all simple and elegant for us. Our mantra was "no best, only better" thanks to Jim. He asked only one thing from every one: make sure you understand how your job, or department, or division, helps us sell cars. And execute on that understanding daily, better than you did yesterday. He practiced what he preached, which is why he rose to the position he did as fast and as well deserved as he did, in a way no other American ever had. He was the first non-factory "roundeye" to be given a seat at the boardroom table.

Still, 37 years is a career. And a distinguished one. And one that has to be hard to leave behind. He said today that "Toyota has been the centerpiece of my life. This was the most difficult decision I have made, but I am truly looking forward to an exciting new chapter in my career."

But never forget that Press came from Detroit, as all the Toyota execs did back in the 60s and 70s. And ever since he left Toyota Motor Sales last year to run the Toyota North American show in NYC (because a certain Japanese exec was playing hanky panky in the office and had to be extricated), I don't think he's been happy. He's a salesman. He loves the field. He loves "moving the metal." He's not an administrator or a figurehead. Too, this is a golden opportunity for the golden years: he's pushing 70, and this is the challenge of a lifetime. Today he said: "I relish this new opportunity with the Chrysler team to be a part of the resurgence of a true American icon here and around the world. Part of my new responsibilities will be strengthening and energizing the dealer body. This is something I was passionate about at Toyota and will be passionate about at Chrysler."

How's Toyota taking the news? Graciously. President Watanabe: "Jim has played a significant role in strengthening Toyota's presence in the U.S. I was looking forward to him playing a bigger role as a member of our management team, so I am sorry to see him leave. I would like to express my heartfelt gratitude for all he has done for Toyota."

So, now there's a GE-trained and a Toyota-trained teaming up to run a company with deep and iconic brands and a few hot products. Watch out.

I've said it before: this is going to be fun to watch. Must-see business drama.

Jim Press wasn't near the top of Toyota, he's now further to the top of Chrysler. Toyota North America is a subsidiary of the parent company Toyota which is based in Japan. The current president and chairman of Toyota is Mr. Katsuaki Watanabe. Jim Press was close but still had a long way to go...

I highly doubt he would make it to the top...especially since people are not liking Stringer and Ghosn lately. Not to mention Toyota Group still is a HIGHLY family owned company. Most of the BOD on their related companies are Toyodas.

But anywho, congrats on the bold move to Jim Press. I hope Chrysler will finally get that something they needed.

Wow, that was totally unexpected

Good, I'm sick of Toyota's BS of late. The GS460 is an example, I bet they are paying him really well, hopefully he takes a lot of supporting staff with him.

Japanese arrogance is coming to bite them in the ass.

Money talks. Don't be surprised if you see a few more people jumping ship. Those in upper management positions tend to bring their people along wherever they go. Let's see what else is in store for the future.

I still feel and believe Toyota despite the loss will be able to move forward. There are very many talented individuals that work within the company. I don't see this as a company losing key people, but more like an emerging company with continuous growth and changes. :D

To further on something that Ryan touched on...take a look at how much Toyota Executives are paid, and then look at how much an equal position is paid at a competing company.

Toyota is near the BOTTOM in the salary department but it's employees have enjoyed greater success, job recognition, and opportunity than other brands...though while being paid less comparatively.

Money talks, and Chrysler is playing the game.

Not the first time a top exec has left Lexus for another brand. When Lexus debuted, the top guy at the time left right before the brand launched.

I love what Chrysler is doing. THey better LISTEN to Mr. Press and not just have him there as an employee.


Lexus has a ceiling for Americans, Japan is still king for the company. As stated, pay is not the best.