Formula 1

Adam Parr to Leave Williams

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Adam Parr - Photo Credit: Glenn Dunbar/LAT Photographic

Adam Parr - Photo Credit: Glenn Dunbar/LAT Photographic

 

Williams have today announced that chairman Adam Parr will leave the team this Friday ‘to persue a better life balance’.

It is an announcement that has taken the Formula 1 world by surprise, given that Parr had thought to have been a major part of Sir Frank Williams‘ succession plan, and had seemed destined to take over from the founder and team prinicpal in the future.

The timing is also somewhat surprising, given the team’s strong performance in the first two races of the season – a vast improvement from last year’s nightmare campaign.

Nick Rose has been appointed non-executive chairman, with Sir Frank continuing to hold a controlling and majority stake in the team.

“I asked Adam to join Williams at the end of 2006 to support me in the running of our team,” said Sir Frank, reflecting on Parr’s contribution to the team. “Over five years, Adam's achievements have surpassed my expectations and I must thank him for his service. Not least for the decisive role he played in the technical changes made last year which are beginning to show through in the team's improved competitiveness this season, and for leading this company to a successful IPO.

“Adam leaves us on good terms to pursue a better balance in his life for which I wish him and his family well. He has left us in good shape and I have every confidence that the Board and senior management team at Williams will continue to drive the business forward into a promising future.”

“I am very grateful to Frank for giving me the opportunity to work for Williams over the past five years – a period that has been both challenging and rewarding,” added Parr. “Williams is a unique team with over 500 great-hearted and talented people and many superb partners in and out of Formula One. Williams is now set up to move forward and I wish everyone at Grove well.”

“I would like to thank the Board for nominating me as Non-Executive Chairman of Williams,” said Rose. “When I joined the Company, my single purpose was to help restore the team to its former glory. Frank and the Board believe that I can best do this as Chairman and I gladly accept this responsibility. A lot of good work has been done to get us to this point but we must continue to work hard if we are to achieve our objectives.”

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