Wolff becomes Executive Director at Mercedes

Wolff becomes Executive Director at Mercedes

21 January 2013 – Toto Wolff has been confirmed as the new Executive Director of Mercedes-Benz, with the Austrian moving over from rivals Williams. The 41-year-old, who is leaving a similar position at the Grove-based squad, will take on Norbert Haug's former role and work alongside triple World Champion Niki Lauda, the brand's new Chairman.

Toto Wolff becomes the new Executive Director of Mercedes-Benz
"Mercedes is one of the most important participants in motorsport," said Wolff, who will oversee the company's entire racing activities. "I am not only a big fan, but also a longstanding friend and enthusiast of the brand. I am looking forward to the challenge and, along with preparing for a successful season, also want to focus on the targeted promotion of new talent.

"I am leaving Williams on good terms and I will miss the team and friends I have made there. I'd also like to wish (Team Principal) Frank (Williams) and the whole of Williams the best of luck for the future."

Dr. Dieter Zetsche, the Chairman of Daimler AG and Head of Mercedes-Benz Cars, is optimistic that Wolff and Lauda can combine to push the German marque forward.

Dr. Dieter Zetsche
"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," Dr. Zetsche said of Wolff. "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."

Although Wolff is switching from Williams, he will remain a shareholder in the team for the foreseeable future. Along with Lauda, he has also become a shareholder in the Mercedes-Benz brand, with the pair holding 30 percent and 10 percent stakes respectively. The majority share of 60 percent is still owned by the Daimler group.

See also:
Wolff tipped for senior Mercedes role

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