In a move that most likely has to do with the company’s recent troubles including problems with the Karma’s batteries and news that the U.S. Department of Energy (DOE) froze a $528 million federal loan, Fisker announced today that it has named former Chrysler Chief Executive Tom LaSorda as its new Chief Executive Officer.

In addition, Henrik Fisker, the company’s co-founder and the original CEO, was appointed executive chairman.

“I am looking forward to working closely with Tom as we steer the company into its future as an iconic global automotive brand with a range of desirable cars that offer environmentally responsible luxury,” said Fisker in a statement released to the press.

LaSorda isn’t a new face at Fisker as he joined the company as Vice Chairman of the Board and executive advisor to the management team last December.

“I am delighted to be assuming such a central role at this exciting time in Fisker Automotive’s history,” said LaSorda.

“The Fisker Automotive team has designed and engineered a great range-extended electric car with industry leading technology and it gives me great pleasure to be working together with the co-founders, Henrik Fisker and Barny Koehler to build Fisker Automotive into a global automotive company.”

“As part of our future strategy, we will be seeking strong partnerships and alliances as Fisker continues to grow as a brand,” he added.