Mercedes team principal and co-owner Toto Wolff has confirmed that he is already preparing his succession, assessing candidates who could take over his responsibilities in the future.
The Austrian expects his duties to be divided between two or three people, although he does not envisage completely stepping away from Mercedes.
Wolff currently combines the day-to-day management of the German Formula 1 team with his role as co-owner, making the question of succession particularly complex.
Speaking on the Cheeky Pint podcast, Wolff revealed that he is already evaluating potential successors behind the scenes and considering a new management structure for Mercedes.
Wolff prepares for a future leadership transition at Mercedes
Wolff confirmed that plans are being developed for a management structure that would allow his current responsibilities to be shared among several individuals.
“There will be a strong management structure. I think my responsibilities will be divided between two or three people. I am currently evaluating those candidates,” Wolff explained.
The Mercedes team principal acknowledged that the changes would also bring a different way of working, although he remains confident about the outcome.
“It will be different, but I expect it to be a successful team.”
Wolff wants to ensure that Mercedes does not encounter difficulties when he is no longer in charge. He referred to examples of entrepreneurs who placed too much faith in their own indispensability.
“I have seen examples of entrepreneurs who were so selfish, or so convinced that they would live forever, that they failed to properly look after their families and their businesses,” he explained.
Establishing a personal legacy is not a priority for the Austrian.
“I don’t need a building named after me, like the Toto Building. That is not important to me.”
Instead, Wolff wants to leave behind a structure that protects both Mercedes and his family.
“I want to do what is best for my family and for the team. That is why we need to think about a future in which Mercedes can function without me.”
He nevertheless acknowledged that the organisation would probably operate differently without him in its current leadership position.
“It probably won’t be exactly the same, because I have built up a certain credibility as an entrepreneur running his own business,” Wolff said.
Wolff does not intend to leave Mercedes completely
A complete separation from Mercedes does not appear necessary at this stage.
As Wolff and his family will remain co-owners of the team, he has not ruled out taking on a future role as chairman, either in an executive or non-executive capacity.
However, he stressed that the responsibilities associated with such a position would need to be clearly defined.
“A chairman’s role could be a possibility, but it would have to be arranged very carefully. You cannot stand on the sidelines and interfere with the day-to-day management at the same time,” Wolff said.
The Mercedes boss also made clear that family ownership should not automatically mean that members of his family take responsibility for running the team.
“I don’t want to assume that my family is best placed to run the business and then have to settle for mediocre results. You have to earn your place in management and actually contribute something. Besides, my children have no interest in that.”
If Wolff eventually decides to step back, he wants his successors to have the freedom to carry out their responsibilities.
A chairman’s position, he explained, should not become a means of continuing to influence decisions behind the scenes.
“If you are chairman, you need to know exactly what your role is. The idea is not to criticise from the sidelines and say that others have done everything wrong.”
Wolff also believes that contact with the drivers should remain separate from the team’s day-to-day management.
“It is not about me continuing to interfere with the daily running of the team. That is how I would want to approach my role in the future.”
Despite preparing for a potential transition, Wolff admitted that he continues to enjoy his current responsibilities at Mercedes.
“But to be honest, I still enjoy leading this team far too much.”
