Williams leaves chairman role at F1 team 09/07/2010 |
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Sir Frank Williams is stepping down as chairman of his eponymous Formula 1 team.
Williams remains team principal and will have the final say on all decisions, but Adam Parr will look after the day-to-day running of the company as chairman.
Patrick Head, Williams's long-time partner, will continue as director of engineering, taking charge of the technical side of the company.
"This is not notice of my impending retirement,” Williams told BBC Sport. “Time is evolving. There are a few more years in me yet, and in Patrick, but it is better to do it early.
"I will continue to go to work every day, but it must be as apparent to you as it is to me that Adam is the right person to run this company.
"Adam has a very strong education and a good career in the management of British companies. We clearly hope the company has a very strong future.
"It's my job and Patrick's job to ensure Williams is a properly run company that will be successful in F1."
Parr added: "Frank remains the team principal and the name, the face and inspiration of the team."
Parr has been with Williams as chief executive since 2006. He has previously worked for Barclays Investment Bank and mining company Rio Tinto.
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