Mercedes Formula 1 team has confirmed that George Kurtz, CEO of major sponsor CrowdStrike, has become co-owner after acquiring a 15 percent minority stake from Toto Wolff.
The Austrian, who remains as Team Principal, was rumoured to be seeking the sale of the minority stake last week to Kurtz, who is an FIA bronze-rated driver in endurance racing.
Part of the agreement sees Kurtz, whose cybersecurity firm has been a Mercedes sponsor for six years, become the team’s Technology Advisor for its strategic steering committee.
Wolff, whose company now holds one-third of the team’s ownership, will remain as a co-owner as well as the team’s CEO.
Mercedes said in a statement that Kurtz will “support the team’s innovation and technology strategy with a focus on the intersection of competitive motorsport, data analytics and Performance”.
Kurtz added: “Winning in racing and cybersecurity requires speed, precision, and innovation. Milliseconds matter. Execution counts. Data wins.
“Technology is reshaping competitive advantage and human capability everywhere, including motorsport. I’m excited to help the team securely accelerate forward.”
Wolff conveyed his faith in Kurtz to hold the role well, utilising his experience in his own field of business, as well as his driving prowess, to empower the team into the future.
“George’s background is unusual in its breadth: he’s a racer, a loyal sporting ambassador for Mercedes-AMG, and an exceptional entrepreneur,” he said.
“He understands both the demands of racing and the realities of building and scaling technology businesses.
“That combination brings specific insight that is increasingly relevant to the future of Formula 1.”
The Brackley-based squad arrives at this weekend’s Las Vegas Grand Prix hopeful of cementing second place in this year’s Constructors’ Championship.
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