Kaltenborn given 1/3 of Sauber

The rule of any good organization is the lock your generals in place and secure the future and legacy, if that is what you desire, of the entity. This is nothing new in business but it is new to Sauber. According to the team website, Peter Sauber has taken a bold move to secure the continuity and future of the team. Here is the press release:

In the interests of continuity, Peter Sauber has taken the decision to transfer a third of the stake in the Sauber Group to CEO Monisha Kaltenborn. Sauber, the Team Principal and President of the Board of Directors of all Sauber Group companies, will retain the remaining two thirds.

Peter says this is a logical choice in keeping continuity going for the long-term prospects of the organization:

“When BMW pulled out of Formula One in 2009, Monisha Kaltenborn was instrumental in the team’s survival and since then she has been doing outstanding work in her capacity as CEO,” says Peter Sauber. “Transferring one third of the stake to her represents an important step for me in providing continuity. My desire is to ensure that the company continues to be led as I would want over the long term. Monisha Kaltenborn and my son Alex, who joined the company as Marketing Director in 2010 and has since also been a member of the Board of Management, both embrace this aim. It means we can offer our employees a positive outlook for the future.”

No question that Monisha Kaltenborn is taking the opportunity very seriously as she said:

CEO Monisha Kaltenborn adds: “For me this step is a mark of the greatest possible trust, which I will do everything in my power to justify.”

Peter rescued the team from BMW’s exit of Formula One and has since developed a tidy operation with strategic ties to Ferrari and sponsor money from Mexico as well as drivers that have been exciting the paddock of late. The team is loaded with terrific talent and securing their future with a clear succession plan and line of site for employees is a good thing.

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