The Gentleman Magazine Issue 6 | December 2017 | Page 40

TOTO WOLFF AND NIKI LAUDA RENEW
CONTRACTS WITH MERCEDES TO END OF 2020
Mercedes-AMG Petronas Motorsport is delighted to announce
that Toto Wolff and Niki Lauda have signed new contracts
which will keep them with the World Champion team until
the end of 2020.
This date aligns with the expiration of the current Commercial
Agreement with Formula One Management.
Niki Lauda began working with Mercedes in late 2012. Since
2013, he has held the role of Non- Executive Chairman of the
board of Mercedes-Benz Grand Prix Ltd and holds a 10% stake
in the Team.
Toto Wolff joined Mercedes from Williams in February 2013.
As a 30% shareholder in Mercedes-Benz Grand Prix Ltd and an
Executive Director, he has worked since that time as the Team’s
managing partner, responsible for day-to-day operations
alongside his wider responsibilities as Head of Mercedes-Benz
Motorsport.
The shareholding arrangements remain unchanged, with
Daimler AG retaining a 60% majority stake in the Team.
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.”
Dr Dieter Zetsche, Chairman and CEO of Daimler AG,
commented:
“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.
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