This is the new power balance within Mercedes
F1 News
- GPblog.com
With the announcement of the shareholding of chemicals company INEOS at Mercedes this morning, there has been a power shift within the team. High time, therefore, to make up the score of the most powerful figures within the team and the changes compared to previous seasons.
Besides the announcement of INEOS as shareholder, Mercedes also confirmed that Toto Wolff will remain as CEO of the team for the next three years. On Twitter, Formula 1 journalist Joe Saward gives a handy overview of the power shift that occurred within the team.
Power shift within Mercedes
From 2021 onwards, Toto Wolff, INEOS and Daimler, another chemicals company, will all own precisely one third of the shares. For Daimler, this is a strong decrease, given that the company previously held a large majority of the shares by 60%.
Toto Wolff is increasing his ownership of the team, even if only slightly. From 30%, his share in the company has now increased by 3.3%. Niki Lauda's shares have been released in connection with his death this year. "A sensible move for all concerned", concludes Saward in regards to the shifted power balance within the team.
Mercedes F1 changes from
— Joe Saward (@joesaward) December 18, 2020
Daimler 60
Wolff 30
Lauda 10
To
Daimler 33
Wolff 33
Ineos 33
Thus Ineos up 33 %, Wolff up 3%
Daimler down 26 %.
Sensible move for all concerned.