Toto Wolff and Niki Lauda have committed to the Mercedes AMG Petronas Formula One Team until 2020, having both signed new deals with the German squad.
The contracts have been drawn up to tie in with the end date of the current agreement between F1 Teams and Formula One Management, and will see the successful duo continue their unstoppable partnership with the triple world championship winning squad.
Lauda will begin his fifth year as Non-Executive Chairman of the board at Mercedes-Benz Grand Prix Ltd this year, having joined the team back in 2012. The Austrian also has a 10% stake in the team, which no doubt spurs on the three-time world champions commitment to the German team.
“The last few years have been some of the most enjoyable I have had in Formula One. Toto and I formed a perfect partnership at Mercedes and we have a great team on every level that has delivered results.
“I must thank Dieter and the other members of the board of Daimler AG for renewing their confidence in us.”
Wolff also came on board as a shareholder a year later in 2013, having previously been Executive Director at the Williams F1 Team. The Austrian took out a 30% stake in Mercedes-Benz Grand Prix Ltd, and took on the day-today running of the F1 team as the squads managing partner, before being appointed Head of Mercedes-Benz Motorsport at the end of the year.
Wolff is looking forward to enjoying continued success with every one of Mercedes’ employees this year.
“Winning is never down to single individuals – it is about the right group of people coming together, aligning themselves with a common objective and then combining their talents to achieve that target.
“Each day I come to the factory, I am humbled to have the privilege of representing this inspiring group of people.”
Daimler AG will also retain their 60% stake in the team, and Chairman and CEO, Dieter Zetsche, is thrilled the two men are remaining on board, seeing both as key components in the Brackley based team’s recent domination, as well as for their continued success.
“It’s great news that Toto and Niki have extended their agreements. 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 expectations.
“A key factor in this success has been the combination of Toto’s entrepreneurial skills and Niki’s experience. Their renewed commitment gives our programme important continuity for the next four years.”