Toto Wolff will relinquish his seat on the Williams board, but will retain his shareholding.
Grove, UK. Williams Grand Prix Holdings PLC (WGPH, Ticker: WGF1) today announced that Toto Wolff, one of its Executive Directors, will be leaving the Company with immediate effect to take up a new role with Mercedes-Benz Grand Prix Ltd.
Speaking about Toto Wolff’s departure Sir Frank Williams commented; ‘’I would like to thank Toto for his hard work, dedication and commitment to the team during his time as a Director of the Company. He was a key support to me as Executive Director last season, deputising at a number of races when I was unable to attend. However, positions such as the one offered to him by Mercedes do not come around often. Toto has a long history with them and I certainly was not going to stand in the way of him accepting this once in a lifetime opportunity. Toto will retain his shareholding in Williams and will always have a place at Grove but make no mistake; we will fight him hard on the racetrack! I am sure he will be a strong asset for Mercedes and on behalf of the whole team I would like to wish him the best of luck in his new role. I’m lucky to have a very professional group of people around me and the Company’s Executive Committee will continue the work they have been doing to ensure a successful future for the business.”