Williams has announced second-largest shareholder Brad Hollinger as a new non-executive director on the company's board.

Hollinger recently boosted his stake in Williams to around 15%, making him the second-biggest holder behind Sir Frank Williams, after the American purchased Mercedes boss Toto Wolff's final shares last month.

Hollinger joins Nick Rose and Eddie Charlton as the company's third non-executive director and has been given an initial three-year term.

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"I'm honoured to be appointed to the Board of one of the world's legendary motorsport teams," Hollinger said, who built his wealth in the American healthcare industry and is Chairman and CEO of Vibra Healthcare. "I have tremendous faith in the potential of this business - both as a competitive Formula One team and diversified Advanced Engineering business.

"It is for this reason that I have invested in Williams over the past two years. I look forward to working with my colleagues on the Board to continue growing Williams and help the business fulfil its potential both on and off the race track."