Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.

 

Williams' step-down ends F1 era

05 March 2012, 15:06 Alan Baldwin

England - Team principal Sir Frank Williams signalled the end of an era on Friday with his decision to follow co-founder Patrick Head and step down from the board of the former Formula 1 World champion team.

Williams and Head – the latter left the board at the end of December, 2011, after selling more than half of his shares - founded the team in 1977 and went on to oversee 113 GP wins, nine Constructors' titles and seven Drivers' crowns.

William, a tetraplegic since 1986 when he broke his back in a car accident, said in a statement: "I will be 70 in April and I have decided to signal the next stage in the gradual but inevitable process of handing over the reins to the next generation by stepping down from the board at the end of March, 2012."

DAUGHTER MARKETING BOSS

"This is not as dramatic a move as it may appear," said the man who was knighted in the 1999 British New Year's Honous list. "I shall continue to work full-time as team principal and I shall continue to attend all board meetings as an observer."

Williams, whose daughter Claire will join the board on April 1 as director of marketing and communications, will also remain as the majority shareholder in Williams GP Holdings. Her father said:

"It is no secret that Claire is my daughter but I am proud to say that she has fought hard to earn this appointment and, of all the battles she has had to fight, the prejudices of her father were not the least challenging.”

The British-based company has been listed since an initial public share offer in Frankfurt in March, 2011.

RENAULT ENGINES

The team will use Renault engines through 2012; it was won a race in 2004. The drivers for 2102 will be Venezuelan Pastor Maldonado and Brazilian Bruno Senna, nephew of the triple champion Ayrton who died in a Williams in 1994.

The team had its worst season in 2011 - ninth overall with only five points.

It has a clear line of succession with chairman Adam Parr taking over much of the day-to-day running of the business.

Williams told the March, 2012 edition of F1 Racing magazine: "If for whatever reason I couldn't come in to do my job, Adam would fill the gap. He's not a racer but, in a way, that's probably an advantage in these distinctly commercial days.

“He's very good at making financial decisions and working out cost-to-benefit. And he can hold his own in the F1 meetings."

-Reuters

Join in the conversation on News24 Kenya’s Facebook page.

Get the latest news by following us on Twitter

 

- Reuters

NEXT ON NEWS24 KENYAX

Read News24’s Comments Policy

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
William Korir
Homa Bay awaits key ODM decision

Residents of Homa Bay county are awaiting a decision on who will likely be their next Senator as nominations for the ODM candidate for the seat take place. Read more...

Submitted by
Victor Tinto
CORD heads to court Monday to cha...

The CORD coalition will file a case at the High Court Monday to have the controversial security laws revoked. Read more...

Submitted by
William Korir
Muthama names Jubilee MPs who ass...

Machakos Senator Johnston Muthama says that MPs who physically assaulted him last week in parliament must be arrested. Read more...

Submitted by
Victor Tinto
Ruto: CORD must not be allowed to...

Deputy president William Ruto says mass action will not help the country in any way, saying the opposition must look for better ways of addressing issues at hand. Read more...

Submitted by
William Korir
ODM to choose Homa Bay candidate ...

The Orange Democratic Movement ODM will choose its candidate for the Homa Bay senatorial by elections Monday. Read more...

Submitted by
Manasseh
Jubilee MP apologetic over Parlia...

The scuffle witnessed in Parliament during the debate on Security Bill 2014 was shameful and unfortunate, Kieni MP Kanini Kega has said. Read more...