DETROIT, Jan. 8 (UPI) -- Chrysler Group CEO Tom LaSorda says he is in a tight spot, needing to turn around an ailing automaker that lost an estimated $1.2 billion in 2006.
"Yes, I'm on the hot seat -- no question about it," LaSorda told The Detroit News at the opening of the North American International Auto Show.
The 52-year-old Windsor, Ontario, native says he is "working many hours a day, seven days a week" on "Project X," the code name for Chrysler's restructuring effort.
DaimlerChrysler AG Chief Executive Officer Dieter Zetsche said he and the board back LaSorda and his team as they work to revive Chrysler's profits.
"The management with Tom leading it has the support and confidence of the supervisory board and of myself," Zetsche said.
LaSorda's restructuring seeks to boost revenue, sharpen the group's Chrysler, Dodge and Jeep brands, revamp the product portfolio and grow Chrysler's international business -- up 15 percent last year.
The turnaround plan is expected to be detailed next month.
