F1 »

Toto Wolff ‘emotional’ after selling last Williams shares

Mercedes AMG Petronas F1 team boss Toto Wolff has sold his final 5% of shares in the Williams to US businessman Brad Hollinger.
Mercedes AMG Petronas F1 team boss Toto Wolff has sold his final 5% of shares in the Williams to US businessman Brad Hollinger.

The Austrian first become invested in Williams in 2009 with a 15% stake in the British team but has slowly reduced his involvement after taking on a senior management role at Mercedes in 2013.

Wolff sold on his last 5% of shares in Williams to Hollinger who now takes the second-highest stake in the team with a total of 15%, only behind Sir Frank Williams who holds a 52% stake, while co-founder Sir Patrick Head holds 9%, with 21% listed on the Frankfurt Stock Exchange and 4% held by an employee trust.

"I am surprised how emotional I am about this day, to be cutting my final business ties to [team founder] Sir Frank Williams and to the team at Williams,” Wolff said. "Having entered the team from a pure investment perspective, I soon found myself in a much more active role, helping to restructure this great independent F1 team.

"I am proud to have joined the sport with a team of true passionate racers, where we had to make spot-on decisions for the future of the business and its employees; I learned some lessons the hard way, but they were all valuable for understanding the industry."

Sir Frank Williams has thanked Wolff for his time and investment in the team over the past seven years and is confident the team has secured a suitable replacement in Hollinger who can support Williams long term.

“Given his role at Mercedes-Benz, a full divestment in Toto's shareholding became inevitable,” Sir Frank Williams said. “We thank him for this judiciousness in only selling to a suitable buyer when the time was right.

"In Brad Hollinger, Toto has sold his full shareholding to a highly successful businessman with an immense passion for Formula 1 and our team - he is a great asset."



Related Pictures

Click on relevant pic to enlarge
11.10.2015 - Race, Toto Wolff (GER) Mercedes AMG F1 Shareholder and Executive Director and Claire Williams (GBR) Williams Deputy Team Principal.
Who will replace Nico Rosberg at Mercedes?
Who will replace Nico Rosberg at Mercedes?
French Grand Prix at Paul Ricard
Lando Norris, McLaren Autosport BRDC Awards [Credit: Martyn Pass PR]
Kimi Raikkonen tests the 2017 F1 tyres in Abu Dhabi [credit: Pirelli]
Lewis Hamilton tests the 2017 F1 tyres in Abu Dhabi [credit: Pirelli]
Daniel Ricciardo tests the 2017 F1 tyres in Abu Dhabi [credit: Pirelli]
Kimi Raikkonen tests the 2017 F1 tyres in Abu Dhabi [credit: Pirelli]
Lewis Hamilton, Mercedes, Pirelli 2017 tyre test [Credit: Pirelli]
27.11.2016 - Race, Celebration, 2nd place Nico Rosberg (GER) Mercedes AMG F1 W07 Hybrid and Champion 2016 and Lewis Hamilton (GBR) Mercedes AMG F1 W07 Hybrid race winner
27.11.2016 - Race, Celebration, 2nd place Nico Rosberg (GER) Mercedes AMG F1 W07 Hybrid and Champion 2016 and Lewis Hamilton (GBR) Mercedes AMG F1 W07 Hybrid race winner
27.11.2016 - Race, Celebration, 2nd place Nico Rosberg (GER) Mercedes AMG F1 W07 Hybrid and Champion 2016 and Lewis Hamilton (GBR) Mercedes AMG F1 W07 Hybrid race winner
27.11.2016 - Race, Celebration, 2nd place Nico Rosberg (GER) Mercedes AMG F1 W07 Hybrid and Champion 2016 and Lewis Hamilton (GBR) Mercedes AMG F1 W07 Hybrid race winner
27.11.2016 - Race, Celebration, 2nd place Nico Rosberg (GER) Mercedes AMG F1 W07 Hybrid and Champion 2016 and Lewis Hamilton (GBR) Mercedes AMG F1 W07 Hybrid race winner
27.11.2016 - Race, Celebration, 2nd place Nico Rosberg (GER) Mercedes AMG F1 W07 Hybrid and Champion 2016 and Lewis Hamilton (GBR) Mercedes AMG F1 W07 Hybrid race winner
27.11.2016 - Race, Celebration, 2nd place Nico Rosberg (GER) Mercedes AMG F1 W07 Hybrid and Champion 2016 and Lewis Hamilton (GBR) Mercedes AMG F1 W07 Hybrid race winner
27.11.2016 - Race, Celebration, 2nd place Nico Rosberg (GER) Mercedes AMG F1 W07 Hybrid and Champion 2016 and Lewis Hamilton (GBR) Mercedes AMG F1 W07 Hybrid race winner

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.


Vincero

March 11, 2016 6:01 PM

theeagle: Its not a good sign when the Mr Big's sell their shares. Its a sign of "the beginning of the end" . If they (shares) were worth holding on to, thats what they do (and even buy more). When all is said and done, I have the utmost respect for Williams (Frank) and wish him well. He did not take the easy way out of it like Jordan (Eddie) did when times got tough and sold up.
Erm.... the Mercedes bosses kind of told him to... potential conflict of interest I would guess. To be fair I can't see why he didn't just 'give' them to his wife... problem solved and she may even get to have a few more goes in the cars....



© 1999 - 2016 Crash Media Group

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