Mercedes F1 team shareholder and director Toto Wolff confirms today a multi-year contract extension to remain in his position until the end of 2026.
The Austrian, who has been contemplating his long-term replacement, recently stated his ongoing desire to manage his team on a day-to-day basis.
This is now confirmed with a new three-year contract with Mercedes F1. The other two shareholders, INEOS boss Sir Jim Ratcliffe and Mercedes president Ola Källenius, decided that it is in the team’s best interest for Wolff to continue in his role.
“The most important thing among the three of us is that we trust each other,” Wolff explains regarding this decision.
“Ultimately, as a shareholder myself, I want the best return on investment. And the best return on investment is to win.”
“I’m not going to try to cling to a position where I think someone else could do better than me. I make sure to have people around me who can tell me the opposite. In the end, we all three decided: ‘Let’s do it again.'”
“I am part of this team in various functions,” Wolff continued.
“I am a co-shareholder. I am on the board of directors. These are things that will not change my executive or non-executive role.”
“But I feel good. The risk for me is always more of a bore-out (getting bored) than a burn-out. And that’s why I embrace the challenges we face today, even if they sometimes seem very, very difficult to manage.”
Toto Wolff Contract Extension A Three-Year f1 2024. Toto Wolff Contract Extension A Three-Year f1 2024.
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