Published on February 21st, 2017 | by Subhash Nair0
Toto Wolff and Niki Lauda Renew Contracts with Mercedes to End 2020
Mercedes-AMG Petronas Motorsport is delighted to announce that Toto Wolff and Niki Lauda have signed new contracts which will keep them with the World Champion team until the end of 2020.
This date aligns with the expiration of the current Commercial Agreement with Formula One Management.
Niki Lauda began working with Mercedes in late 2012. Since 2013, he has held the role of Non-Executive Chairman of the board of Mercedes-Benz Grand Prix Ltd and holds a 10% stake in the Team.
Toto Wolff joined Mercedes from Williams in February 2013. As a 30% shareholder in Mercedes-Benz Grand Prix Ltd and an Executive Director, he has worked since that time as the Team’s managing partner, responsible for day-to-day operations alongside his wider responsibilities as Head of Mercedes-Benz Motorsport.
The shareholding arrangements remain unchanged, with Daimler AG retaining a 60% majority stake in the Team.