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Toto Wolff quits Williams, joins Mercedes

by Niharika Ghorpade Posted on 22 Jan 2013 889 Views

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Toto Wolff, Executive Director at Williams will now join Mercedes, but will retain his shareholding in the company. Wolff joins Niki Lauda and Ross Brawn to form the new management at the Mercedes AMG Petronas F1 team

 

 

Toto Wolff Executive Director Mercedes

 

Williams F1 team Executive Director Toto Wolff has left the team to join Mercedes-Benz Grand Prix Ltd as their new Executive Director. Wolff’s involvement with the Williams team began in 2009 when he bought shares of the team and also joined their Board of Directors. He became an Executive Director at Williams in July 2012.

 

Williams Team Principal and majority stake-holder Sir Frank Williams will continue to run the company, while Wolff’s responsibilities will be shared by other members of the board’s Executive Committee. However, Wolff will retain his shares in the Williams company and his seat on the Board of Directors. 

 

On the other hand, Mercedes F1 team has confirmed Wolff as a shareholder and an Executive Director of the Mercedes-Benz Grand Prix Ltd. His primary focus will be to coordinate all the motorsport activities of Mercedes- Benz, a role fulfilled by Norbert Haug previously. 

 

Toto Wolff, shareholder at Williams F1

 

Wolff started his career in Formula One in 1992 as a driver and later founded several venture capital companies. One of his current investments is HWA AG, the partner of Mercedes-Benz Motorsport in DTM racing. 

 

Mercedes-Benz Chairman Dr. Dieter Zetsche said, “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.”

 

Wolff will now join Lauda and Ross Brawn to form the new management line-up at the Mercedes team. 

 

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