Mike O’Driscoll has announced plans to retire from his role of chief executive officer of Williams Grand Prix Engineering, which emcopasses the Formula 1 team.

O’Driscoll, 64, will step down from the position he has held since 2013 following a transitional period after the recent sale of the Williams outfit to Dorilton Capital.

During his tenure O’Driscoll not only oversaw the acquisition by Dorilton Capital which has secured the Williams F1 team’s future, but also the signing of F1’s new Concorde Agreement.

It follows the departure of the Williams family – including founder Sir Frank Williams and deputy team principal Claire Williams – after last weekend’s Italian Grand Prix, ending a 43-year involvement the sport.

“It has been and remains a huge privilege to be part of this great team,” said O’Driscoll.

“I am proud to have played my part in securing the long-term future of Williams and look forward to working closely with Matthew and his team, to ensure a smooth transition and the best possible trajectory for the team’s future success.”

It was announced last week that Williams Grand Prix Engineering’s new board will consist of Dorilton Capital chairman Matthew Savage, Darren Fultz, who is the CEO of the investment fund, and James Matthews, CEO of the Eden Rock Group.

Speaking about O’Driscoll’s impending exit, Savage added: "Mike has made a huge contribution as CEO, working alongside the Williams family since the IPO in 2011.

“He has steered the corporate side of the group admirably through challenging times and has been invaluable in preparing Williams for the next exciting phase."

 

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