In an historic move, AT&T Williams F1 team founder Frank Williams has relinquished his role as Chairman of Williams. While remaining the controlling shareholder, Williams has promoted CEO Adam Parr to the role.
â€œAdam joined Williams in 2006 as Chief Executive Officer. He has
taken the lead in putting the team on a stronger financial footing, developing new businesses and building our social responsibility programme. These initiatives have seen us partnering with such outstanding organisations as Porsche and Cambridge University Press respectively in hybrid technology and education. I have now asked him to step up to Chairman in my place to give him both the responsibility and the authority to ensure the good running of all aspects of the team and the company.â€
The new Chairman is certainly tipped for taking over when Williams retires but that is not on the cards at the moment. Parr said:
â€œIt is both a great honour and a big responsibility to take over Frankâ€™s role as Chairman of Williams. Frank remains our controlling shareholder and Team Principal and he will always be the name, the face and the inspiration of this team. My aspiration is to ensure that
the team and the company are run to the high standards that Frank and Patrick Head have always demanded, both on and off the track. In this, I am fortunate to count on dedicated partners, a strong board and, above all, a great team of dedicated and talented people at Grove.
â€œI am also pleased to announce that Alex Burns steps up from the role of Chief Operating Officer to that of Chief Executive Officer. In addition to his responsibilities for the production side of Williams F1, Alex chairs Williams Hybrid Power Limited and the Williams Technology Centre in Qatar.â€
Williams F1 has suggested that no other changes will be made to shareholder structure and that co-owner Patrick Head will remain as Director of Engineering while Sam Michael will remain as the Technical Director.