Mike Gascoyne is to hand over day-to-day control of the technical department of Caterham's F1 team after being promoted to a new role within the Caterham Group.
Gascoyne will become the new chief technical officer of the entire Caterham Group, which means he will now be responsible for proposing, supporting and coordinating key technical initiatives in Caterham Group's F1 and GP2 teams as well as within Caterham Cars, Caterham Composites and Caterham Technology & Innovation.
While Gascoyne will still attend some races this season, F1 technical director Mark Smith will now increase his presence at events as part of his expanded role.
“This is a very proud moment for me,” Gascoyne said. “My new role will now give me the chance to help drive value across the whole group through the creation and delivery of new projects in all the sectors we are already working in, and opening up new opportunities for each of the Group's companies to embrace.
“Mark Smith is exactly the right person to step up to the broader role he will now be taking on in the F1 team, and I am looking forward to working even more closely with Mark Edwards at Caterham Technology & Innovation, Phil Hall at Caterham Composites and Ansar Ali at Caterham Cars. This is a big challenge but one I am extremely excited about and I want to thank our shareholders for this opportunity.”
Tony Fernandes, Caterham Group chairman, was pleased to see Gascoyne accept the new challenge.
“We are all delighted that Mike has taken up the challenge we have presented him, to lead technical direction across the whole Caterham Group,” he said. “His experience, knowledge, enthusiasm and creativity give him the perfect skill set to help us achieve the ambitious goals we have set for all the group companies, and I know Mike is excited about what lies ahead.”