Williams minority shareholder Charles ‘Toto’ Wolff has been awarded a promotion, with the Austrian moving into the role of Executive Director of Williams Grand Prix Holdings PLC. Wolff had previously served as a Non-Executive Director on the team’s board.
The Grove team made the announcement overnight, adding that Wolff will assist team founder Sir Frank Williams in his continued position as Team Principal.
“Toto’s new role, working closely alongside myself, is about Williams looking forward and managing the successful running of the company. I am looking forward to our new working relationship and I have every belief that this partnership will help take Williams F1 from strength to strength,” Williams said in the team’s media release.
What is less clear is just how much involvement Wolff will have in the team, which not yet managed to replace Adam Parr, who swiftly departed the team as Chairman shortly after the 2012 championship season got underway.
Wolff’s shareholding in the team is about 16% – compared with the 50.3% stake held by Williams – and his time is split among his many other business interests. While he has been a more visible figure at some Grands Prix this season, this is not necessarily indicative that we will see more of him following his promotion.
One of the more laughable rumours kicking around during the German Grand Prix weekend was that Williams had approached his former driver, Damon Hill – winner of the 1996 Drivers’ Championship with the team – to help lead the outfit.