Chairman and CEO of Daimler AC Dr Dieter Zetsche has described as ‘great news’ that Head of Mercedes Benz Motorsport Toto Wolff and Mercedes AMG PETRONAS F1 Team non executive chairman Niki Lauda have extended their contracts at Brackley until the end of 2020.
Speaking following the announcement, Zetsche commented by saying:
It’s great news that Toto and Niki have extended their agreements. In 2013, we restructured the management of the Team with the clear goal of improving our performance. Since then, however, the results have exceeded our expectations. A key factor in this success has been the combination of Toto’s entrepreneurial skills and Niki’s experience. Their renewed commitment gives our programme important continuity for the next four years
Niki Lauda joined the team in 2012 and is a 10 percent stakeholder in the Grand Prix outfit and speaking following the announcement, the Austrian commented by saying:
The last few years have been some of the most enjoyable I have had in Formula One. Toto and I formed a perfect partnership at Mercedes and we have a great team on every level that has delivered results. I must thank Dieter and the other members of the board of Daimler AG for renewing their confidence in us.
Toto Wolff joined the team from Williams in 2013 and is responsible for the day to day operation of the reigning world champions. Wolff, who owns a 30 percent stake in the Mercedes F1 Team commented by saying:
Winning is never down to single individuals – it is about the right group of people coming together, aligning themselves with a common objective and then combining their talents to achieve that target. Each day I come to the factory, I am humbled to have the privilege of representing this inspiring group of people.
It has been a very busy off-season for the Mercedes AMG PETRONAS F1 Team with the arrival of Valtteri Bottas from Williams, the departure of Paddy Lowe and just last week the announcement of the imminent arrival of James Allison.
The 2017 Mercedes AMG PETRONAS F1 Team car, the W08 will be revealed to the public at the Silverstone circuit by Lewis Hamilton and Valtteri Bottas on Thursday. Winter testing gets underway next Monday 27 February.