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Wolff and Lauda renew contracts with Mercedes
Mercedes team bosses and shareholders Toto Wolff and Niki Lauda have agreed new contracts to the end of 2020, the Formula One world champions confirmed. The date aligns the two Austrians' contracts with the expiration of the current Commercial Agreement with Formula One Management. Mercedes motorsport head Wolff, who is effectively the team principal, has a 30 percent stake in Mercedes Grand Prix Limited while non-executive chairman Lauda, a retired triple world champion, has 10 percent.
Daimler AG hold the remaining 60 percent. 'In 2013, we restructured the management of the Team with the clear goal of improving our performance. Since then, however, the results have exceeded our...
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9y ago from GrandPrix247.com
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