Fernandes to step down from Caterham role

Following on the news that Renault and Caterham are going into the sports car business, team boss Tony Fernandes has announced he’s stepped away from the Formula 1 world to focus on the new venture.

Here’s the news over at the official F1 site:

Malaysian entrepreneur Fernandes, who has led the team since they joined the grid as Lotus in 2010 alongside fellow newcomers Marussia and HRT, always said he planned to step aside once the squad was established.

“On the racing side we have come to the conclusion that it is better if someone else takes over the team principal role to move forward,” he told Autocar andAutosport magazines. “We are definitely better at business than finding tenths of seconds around a lap.

“It was right for us to lead the team initially and set a template of how it should be. That vision is now set and the team is ready to move forward to the midfield.”

Fernandes says his successor has been picked, but they aren’t announcing it yet. Anyone want to venture a guess at who it might be?

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