Mercedes AMG F1 boss Toto Wolff and non-executive chairman Niki Lauda have renewed their allegiance to Mercedes-Benz until the end of 2020.
The lucrative new deals by both men are hardly a surprise while their duration corresponds to Mercedes’ own commitment to Formula 1.
Also, both men retain their ownership of the Mercedes AMG F1 team, with Wolff holding a 30% stake while Lauda enjoys a 10% participation.
The renewed loyalty puts a final point to a frantic period of negotiation at the Brackley-based outfit with collective talks on several fronts as Mercedes settled deals with Bottas, tech boss James Allison who replaces Paddy Lowe, and senior management with Lauda and Wolff.
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“In 2013, we restructured the management of the team with the clear goal of improving our performance,” said Daimler chairman and CEO, Dieter Zetsche.
“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 commented:
“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 concluded:
“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.”
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