F1 »

Williams hands over to Parr, team sticks with Cosworth

Sir Frank Williams has officially relinquished the day-to-day running of the ultra-successful team that bears his name to Adam Parr - as the Grove-based outfit confirms the extension of its Cosworth engine-supply into F1 2011
On the eve of the race that delivered his eponymously-named team its breakthrough grand prix victory at Silverstone all the way back in 1979, Sir Frank Williams has officially announced that he is to step down from the role of chairman of Williams F1 – whilst the Grove-based squad confirmed that it will prolong its engine-supply deal with Cosworth into 2011.

Though he will remain team principal and as such retains final say on key matters, Williams will hand over the day-to-day running of the ultra-successful operation to Adam Parr, who has hitherto fulfilled the role of chief executive – and acting chairman since the beginning of the F1 2010 campaign. Team co-founder Patrick Head's position of director of engineering is unaffected, whilst Alex Burns replaces Parr as CEO.

“This is absolutely 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 love F1, I have a strong involvement in the company and 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.”

“I have asked Adam to step up to chairman in my place to give him both the responsibility and authority to ensure the good running of all aspects of the team and the company,” he added in a team statement. “Adam has a very strong education and a good career in the management of British companies.

“He has taken the lead in putting the team on a stronger financial footing, developing new businesses and building our social responsibility programme. These initiatives have seen us partnering with such outstanding organisations as Porsche and Cambridge University Press respectively in hybrid technology and education. 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.”

The 68-year-old will also remain the majority shareholder in the team that bears his name, along with Head and Austrian private equity investor Toto Wolff, who bought into the Oxfordshire concern with a minority stake last year, ending Williams' and Head's three decade-long exclusive dual ownership. He added that whilst he is 'not actively looking' at selling the independent outfit to an outside party, nor would he discount the possibility.

“It is both a great honour and a big responsibility to take over Frank's role as chairman,” acknowledged Parr, who joined Williams in 2006 after qualifying as a barrister and working as an investment banker for Barclays and for prominent mining company Rio Tinto.

“Frank remains our controlling shareholder and team principal, and he will always be the name, the face and the inspiration of this team. My aspiration is to ensure the team and the company are run to the high standards that Frank and Patrick Head have always demanded both on and off the track. I am fortunate to count on dedicated partners, a strong board and above all a great team of dedicated and talented people at Grove.”

Williams used the opportunity, moreover, to reveal that the team is 'very happy' to extend its relationship with Cosworth into a second season in 2011, though he conceded that the long-term objective is to renew the kind of successful partnership with a major manufacturer such as the Renault and Honda eras that delivered no fewer than twelve of its 16 world championship crowns in the top flight between 1986 and 1997.

The squad presently sits seventh in the constructors' title standings on 20 points, and had been linked with a return to Renault power next year prior to today's announcement to the contrary.




Related Pictures

Click on relevant pic to enlarge
Qualifying, Nico Hulkenberg (GER), Williams, FW32
Saturday Practice, Rubens Barrichello (BRA), Williams, FW32
Friday Practice 2, Rubens Barrichello (BRA), Williams, FW32
Adam Parr, Chief Executive Officer, Williams F1 Team
Sir Frank Williams(gbr),Team Principal Williams F1 Team
Frank Williams (GBR) Williams Team Principal, Turkish F1, Istanbul Park, 9th-11th May, 2008
Frank Williams (GBR) Williams Team Principal, Canadian F1 Grand Prix, Montreal, 8th-10th, June 2007
Saturday Practice, Sir Frank Williams(gbr),Team Principal Williams F1 Team
20.04.2014- Race, Lewis Hamilton (GBR) Mercedes AMG F1 W05
20.04.2014- Race, Lewis Hamilton (GBR) Mercedes AMG F1 W05
20.04.2014- Race, Lewis Hamilton (GBR) Mercedes AMG F1 W05
20.04.2014- Race, Lewis Hamilton (GBR) Mercedes AMG F1 W05 during pit stop
20.04.2014- Race, Nico Rosberg (GER) Mercedes AMG F1 W05
20.04.2014- Race, Lewis Hamilton (GBR) Mercedes AMG F1 W05 taking the checkered flag
20.04.2014- Lewis Hamilton (GBR) Mercedes AMG F1 W05 celebration in parc fermee
20.04.2014- Race, Nico Rosberg (GER) Mercedes AMG F1 W05 and Sebastian Vettel (GER) Infiniti Red Bull Racing RB10
20.04.2014- Race, Nico Rosberg (GER) Mercedes AMG F1 W05 during pit stop
20.04.2014- Race, Nico Rosberg (GER) Mercedes AMG F1 W05 and Felipe Massa (BRA) Williams F1 Team FW36

Join the conversation - Add your comment

Please login or register before adding your comments.

Although the administrators and moderators of this website will attempt to keep all objectionable comments off these pages, it is impossible for us to review all messages. All messages express the views of the poster, and neither Crash Media Group nor Crash.Net will be held responsible for the content of any message. We do not vouch for or warrant the accuracy, completeness or usefulness of any message, and are not responsible for the contents of any message. If you find a message objectionable, please contact us and inform us of the problem or use the [report] function next to the offending post. Any message that does not conform with the policy of this service can be edited or removed with immediate effect.


richard

July 08, 2010 7:13 PM
Last Edited 1382 days ago

well earned retirement, sir frank. you gave your all to f1 and will be remembered for a long long time. you persevered through thick and thin to become an overnight success. its a pity a major sponsor never came your way to make you fully competitive again. despite my fears, the cossie is appearing to be half decent, so lets hope that they can give the team a boost.



© 1999 - 2014 Crash Media Group

The total or partial reproduction of text, photographs or illustrations is not permitted in any form.