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Wolff and Lauda Sign New Mercedes Deals

Discussion in 'Formula 1' started by Bethonie Waring, Feb 20, 2017.

  1. Bethonie Waring

    Bethonie Waring

    Wolff and Lauda.jpg Mercedes team boss Toto Wolff and non-executive chairman Niki Lauda have confirmed they’ll be staying with the team until at least 2020.

    Both have signed a new deal that coincides with Mercedes current Formula One plans. Like many teams, Mercedes are waiting to see what Liberty Media has planned for the future of F1 before committing to the championship.

    The confirmation brings much needed continuity at Mercedes, who have recently had to replace reigning world champion Nico Roseberg and executive technical director Paddy Lowe.

    “In 2013, we restructured the management of the team with the clear goal of improving our performance,” said the chairman and CEO of Mercedes’ parent company Daimler, 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.”

    Wolff will keep his 30% shareholding of the team, and Lauda his 10%.

    For more Formula One news and discussions head over to the RaceDepartment Formula One sub forum and join in with your fellow community members.

    Good news for Mercedes or would you have liked to see change? Let us know your thoughts in the comments below!
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