Toto Wolff and Niki Lauda have taken a combined 40 per cent stake in the Mercedes AMG Formula 1 Team, it was confirmed on Monday.
Wolff, who has relinquished his role at Williams to become executive director of Mercedes motorsport activities, will also take a 30 per cent stake in the F1 team.
Lauda, who joined the board last year when the team announced the signing of Lewis Hamilton from McLaren, will take a 10 per cent stake, leaving Daimler with the remaining 60 per cent.
Mercedes-Benz chairman Dieter Zetsche hopes the management changes will help the team to realise its ambitions.
“As an entrepreneur, investor and motorsport manager, Toto Wolff has proven that this sport runs in his blood; at the same time, he is also well aware of the economic necessities of the business,” he said.
“With Toto Wolff, we have gained for our Formula 1 team not only an experienced motorsport specialist, but also a longstanding enthusiast of the Mercedes-Benz brand.
“Together with him and Niki Lauda, we will further develop our motorsport activities and guide our Silver Arrows into the next era.”
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