Cerberus Capital Management LP said Robert Nardelli will leave his post as head of its operations and advisory business and become an adviser to Stephen Feinberg, the firm’s founder and chief executive officer.
Robert Nardelli , former chief executive officer of Chrysler LLC and Home Depot Inc ., was named the temporary head of Freedom Group Inc. while the gunmaker looks for a permanent CEO, according to a statement today.
NewPage Corp. bonds fell the most in almost six weeks as Robert Nardelli assumed leadership of the company after Chief Executive Officer E. Thomas Curley and Chairman Mark Suwyn resigned from the maker of coated paper.
Yellow-page publisher R.H. Donnelley Corp. filed a Chapter 11 petition late yesterday in Delaware along with agreement on a reorganization plan reducing debt by $6.4 billion and giving all of the new stock and $300 million in unsecured notes to holders of 11 issues of unsecured notes.
NewPage Corp. bonds tumbled by the most since being issued in 2005 after the coated-paper maker owned by Cerberus Capital Management LP reported first-quarter results that were lower than analysts forecast and said Robert Nardelli resigned from its board of directors.
Office Depot Inc. shareholder Starboard Value LP, which has pressured the retailer to improve operations, nominated six people to the chain’s board as it works to complete its merger with OfficeMax Inc.