Sauber team CEO Monisha Kaltenborn has received a third of the stake in the Sauber Group, it was announced by the Swiss company on Wednesday afternoon. The share has been given up by team owner Peter Sauber, who has already said that he intends to retire from his role of Team Principal by the end of next year.
With Sauber celebrating his 70th birthday in 2013, having already bought back into the team he originally founded when BMW suddenly withdrew in 2009, the businessman has now started the process of transferring ownership of the squad.
“When BMW pulled out of Formula 1 in 2009, Monisha Kaltenborn was instrumental in the team’s survival and since then she has been doing outstanding work in her capacity as CEO,” Peter Sauber explains. “Transferring one third of the stake to her represents an important step for me in providing continuity.
"My desire is to ensure that the company continues to be led as I would want over the long-term. Monisha Kaltenborn and my son Alex, who joined the company as Marketing Director in 2010 and has since also been a member of the Board of Management, both embrace this aim. It means we can offer our employees a positive outlook for the future.”
Briefly taking about her acquired stake, Kaltenborn adds:
“For me this step is a mark of the greatest possible trust, which I will do everything in my power to justify.”
2013 will mark the 20th anniversary of the Sauber F1 Team.
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