McLaren Group loses director of the team

22-06-2020 15:53
McLaren Group loses director of the team

McLaren Formula 1 investor Mansour Ojjeh is no longer director of the team, but the change does not affect his shareholding. This is what The Race writes on Monday.

An investor for years

Ojjeh has been a senior figure at McLaren since the TAG Group, which he led more than 30 years ago, invested in the company. TAG switched its support from Williams to McLaren after it was recruited by Ron Dennis. This meant that Ojjeh played a key role in McLaren's expansion and formed a close friendship with Dennis.

When Dennis lost control of McLaren three years ago, he sold his remaining shares to Ojjeh and the royal family's investment company Mumtalakat in Bahrain.

Takeover function

Ojjeh's son, Sultan, took his place as director of the McLaren Group from the 12th of June this year and will sit on the board on behalf of Mansour. Mansour will lose his position as a board member of all parts of McLaren. Ojjeh was Managing Director of McLaren Racing until July 2018. His resignation was seen as a simplification of the structure of the board.

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