Chrysler LLC Manager Named Chairman of Business Consortium Fund

December 20, 2007 , Auburn Hills, Mich. -  The Business Consortium Fund (BCF), a non-profit business development arm of the National Minority Supplier Development Council (NMSDC) has named Jethro Joseph, Chrysler LLC Senior Manager - Diversity Supplier Development, as Chairman of the Board of Directors.

Established in 1987, BCF is the nation’s most comprehensive financing and business support organization that is dedicated to the minority-owned business sector. It has been responsible for nearly $200 million in loans to minority businesses that have generated over 7,000 jobs nationwide in a variety of industries.

As chairman of the BCF Fund, Joseph is responsible for helping guide strategic direction and policy of the organization while participating in fundraising activities. He will serve as chairman for two years.

Joseph has served as a member of the BCF Board since 1996. He is a member of the BCF Board of Directors Executive Committee and most recently served as Vice Chairman and Treasurer.

“It is an honor to serve as Chairman of the Business Consortium Fund and continue to help minority-owned businesses secure capital for growth and development,” said Joseph. “It is exciting to help businesses develop into organizations that create jobs and bring positive change to their communities. I am proud to be a part of that legacy.”

As manager of Chrysler’s Supplier Development program, Joseph is responsible for all aspects of minority supplier identification, development and growth as relates to Chrysler business opportunities. In addition, he also serves on numerous corporate and industry boards and committees while remaining active in various community endeavors.

The company sourced nearly $4 billion with minority suppliers in 2006, an increase of 43 percent since 1998. Last year, 13.5 percent of the company’s purchases went to minority suppliers.

Since 1983 when the company’s Diversity Supplier Development program was created, Chrysler has spent in excess of $34 billion with minority and woman-owned businesses.