Toto Wolff is getting closer to Frank Williams
The transition phase at Williams continues: Toto Wolff will now take on an operational role within the Grove team as he will become the executive director.
The Austrian investor entered the capital of Williams in November 2009 and gradually gained weight and influence there. Thus, he had been appointed as a non-executive director of the structure and had retained all of his 10% stake during the stock market debut in February 2011. An obvious sign of his influence within the team was the appointment of his young wife, Susie, to the driver development program last April.
From now on, he presents himself as one of the future figures of the team. Indeed, Adam Parr, then CEO of the group, decided to resign in March. The reasons for this departure had not been officially disclosed by the team, but the paddock had hinted that Frank Williams had preferred to sacrifice Adam Parr rather than make life too difficult for Bernie Ecclestone in the negotiation of the new Concorde Agreements.
This assumption of power for the future is therefore becoming clearer with today’s announcement. He will now support Frank Williams in his role as Team Principal, who remains committed to the team despite leaving the board. The main shareholder with 50.3% of the team thus declared: “Toto’s new role, working closely with me, aims to direct Williams towards the future and ensure the proper management of the company.”
If Williams no longer has a CEO as such at its head, the team favors internal and collective solutions to ensure continuity and prepare the next generation to definitively take the reins of power.
