New Management formed at Mercedes between Wolff, Lauda and Brawn
In a significant shake-up to their Formula One activities, Mercedes have announced that Toto Wolff, formerly Executive Director at Williams, and Niki Lauda, currently non-executive chairman of the Mercedes F1 team’s board, will both become investors. Together with team principal Ross Brawn, they will complete a new management line-up for the German car maker’s F1 squad.
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Toto Wolff |
Wolff, whose Williams departure was announced earlier today (Monday), will acquire a “significant minority interest” in the team, which he will head up in his role as Executive Director of owners Mercedes-Benz Grand Prix Ltd, and will take over the complete coordination of all Mercedes-Benz motorsport activities, the role formerly filled by Norbert Haug.
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Niki Lauda |
"As an entrepreneur, investor and motorsport manager, Toto Wolff has proven that this sport runs in his blood; at the same time, he is also well aware of the economic necessities of the business,” stated Dr Dieter Zetsche, Head of Mercedes-Benz Cars and Chairman of Daimler AG.
“With Toto Wolff, we have gained for our Formula One team not only an experienced motorsport specialist, but also a longstanding enthusiast of the Mercedes-Benz brand. Together with him and Niki Lauda, we will further develop our motorsport activities and guide our Silver Arrows into the next era."
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Norbert Haug |
Wolff sees his new task as one of the most exciting challenges in motorsport: "Mercedes is one of the most important participants in motorsport worldwide. I am not only a big fan, but also a longstanding friend and enthusiast of the brand. I am looking forward to the challenge and, along with preparing for a successful racing season, also want to focus on the targeted promotion of new talent.
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Ross Brawn |
"I am leaving Williams on good terms and I will miss the team and friends I have made there. I'd also like to wish Frank (Williams) and the whole of Williams the best of luck for the future."
Wolff started his motorsport career as a driver in Formula Sport in 1992. Since 1998, the Austrian has founded several venture capital companies and his current investments include an interest in HWA AG, the partner of Mercedes-Benz Motorsport in DTM racing. In November 2009, he acquired a stake in Williams and joined its board of directors, before becoming an Executive Director in July 2012.
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