Management restructure secures Renault's F1 future

16-02-2020 10:10
General
Management restructure secures Renault's F1 future

Renault's future in Formula One looks much safer than before according to team principal Cyril Abiteboul, after the French manufacturer's management structure was sorted.

After the arrest of former CEO Carlos Ghosn last year, major reviews within the operation took place, during what could only be described as a turmoil time for the French manufacturer.

Renault's F1 program was called in question by interim CEO Clotilde Delbos in late October, after announcing that a review of all the company's activities would take place to map out a clear path for the future.

But with the arrival of new CEO Luca De Meo later in the year, Abiteboul is adamant that the F1 team's future is safe despite the French manufacturer confirming widespread cost-cutting measures after the first company-wide loss for a decade.

Speaking to Motorsport.com earlier in the week, Abiteboul said: "I guess the main development is the fact that we have a confirmation of the new governance structure finally.

"It's been a number of evolutions, like in F1. But now in Luca De Meo we have a clear CEO. He will not join before July, but at least we have a date and a name."

Abiteboul admits that running the F1 program is not cheap, but believes that the changes in 2021, along with interim CEO Delbos' knowledge of the benefits in being in motorsport's elite competition, mean Renault will be in F1 for years to come.

"She's [Delbos] very naturally driven by figures," he said. "To look at F1 from a financial perspective it's a cost, but it's also an asset. And it's an investment.

"It's pointing in the right direction. Audience exposure or market share. But also costs, with a prize fund that will be better, a budget cap that will be better and engine regulations that stay stable."

Non-executive director of Renault Alain Prost sees more positive signs about the manufacturer's participation in F1, despite having his doubts last year after the issues off-track.

"It's always a concern for sure," the four-time world champion said to Motorsport.com. "Especially being a big constructor and also we cannot hide all the problems with the president who left, and the organisation changed completely.

"We have different meetings scheduled now, we have a new president of Renault coming in July, and since we really have a lot of new people, and they are all very concerned on one side and very motivated on the other side about F1."

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