Michael Andretti steps down as owner of Andretti Global
Breaking News
- Ludo van Denderen
Daniel Towriss, the CEO of insurance and financial services company called Group 1001 and chief investor of Andretti Global, has taken over the leadership of the company with immediate effect. Michael Andretti, the team's founder and a former racing driver himself, remains attached to the organisation in an advisory and ambassadorial role, but is thus no longer an owner. Andretti Global announced this on Friday.
The US team has since released a statement on the surprising development: "Michael’s goal has been to transition to a more strategic role with Andretti Global and focus less on the operational side of the race team. Michael and Dan Towriss have been working closely on developing this new structure, one which Michael is excited to see take shape under Dan’s guidance."
"Michael remains engaged and will continue to serve as a strategic advisor and key ambassador. We will have more to share in the coming weeks, after Michael and Dan have had an opportunity to speak to the team."
Andretti Global want to enter Formula 1 with own team
Andretti and Towriss were jointly the owners of Andretti Global the recent years, that have a team in Formula E and IndyCar, among others. It was planned that the duo would also start their own Formula One team together. Even as Michael Andretti is now stepping down, by no means trying to enter a team in the competition is on hold. Towriss would still like to join - together with their engine supplier, Cadillac, - the premier class of motorsport.
This article was written in collaboration with Kada Sarkozi
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