Ron Dennis on his way out of McLaren?
Several sources claim that Ron Dennis, McLaren's iconic CEO, has not been offered a contract renewal to continue in this position.
Ron Dennis is at the center of significant speculation about his future within the McLaren group. The non-renewal of the Briton’s contract is reportedly due to difficulties in raising the necessary funds to buy out the shares held by Mansour Ojjeh and the Bahraini sovereign wealth fund Mumtalakat, which hold 25% and 50% of McLaren Technology Group, respectively. Let’s remember that Ron Dennis himself holds the remaining 25%.
The group’s road division is not affected by these potential changes. If he is not renewed as CEO, it would mark the end of a 35-year collaboration with the legendary F1 team. This collaboration has been particularly fruitful, resulting in seven Constructors’ titles and ten Drivers’ titles. His role also includes leading the group comprising McLaren Racing, McLaren Marketing, and McLaren Applied Technologies.
Previously, Ron Dennis left his position as CEO of the McLaren Technology Group in 2009, only to return in 2014. His return coincided with Honda’s arrival as the team’s engine supplier, a partnership that had won several titles with McLaren between the late ’80s and early ’90s.
The team is coming off a very disappointing 2015 season, the first year of the partnership, finishing in ninth place, as well as a 2016 season that showed significant progress but was still far from the podiums they hoped for. The last time the team stood on the podium was in Melbourne 2014.
In response to *Autosport* a McLaren spokesperson stated: « *In response to your question, Ron Dennis is adamant and makes it known that he has no intention of leaving his positions. Furthermore, he remains under contract as chairman and CEO of McLaren Technology Group, and he retains a 25% stake in the group, exactly equal to that of Mansour Ojjeh.* »
The same spokesperson also added: « For many years, for many decades, the shareholders of McLaren have often engaged in dialogue about potential moves and stock readjustments, Ron and Mansour have always been at the center of these discussions. However, it would be inappropriate to reveal further details of these discussions, which are of course private and confidential. »
This uncertainty surrounding Ron Dennis’s future comes a few weeks after the takeover attempt of McLaren by Apple, which was quickly denied by the industrial group.
