Toto Wolff will remain Mercedes F1 team principal and CEO until at least the end of the 2026 Formula 1 season and in this episode of NewsDesk Unplugged, Paul Velasco and Jad Mallak discuss the news.
52-year-old Wolff revealed that after a meeting with the team’s equal shareholders, Ineos and Mercedes-Benz, they agreed to an extension of his contract that has run for 11 years. A period in which he built and led one of Formula 1’s mightiest teams.
He confirmed in a statement: “I think the most important thing between the three of us is that we trust each other. At the end of the day, as a shareholder myself, I want the best return on investment. And the best return on investment is winning.
“I’m not going to try to hang on to a position that I think somebody is going to do better than me. I make sure that I have people around who can tell me otherwise. In the end, the three of us decided: ‘Let’s do it again’.”
He continued: “I’m part of this team in various functions. I’m a co-shareholder. I’m on the board. These are things which will not change whatever executive, or non-executive, role I have.
“But I feel good. The risk for me is always more 'boreout' than burnout. And that’s why I embrace the challenges we have today, even though they sometimes feel very, very difficult to manage," added Wolff.
No brainer that Toto will remain boss of the Mercedes F1 Team which he owns!
Paul says of the Wolff/Mercedes news: "It was a no-brainer. He owns a third of the team and he's not going to fire himself. I think he's done a fantastic job. They may be down on their luck now but under Toto, they were the mightiest team ever, 15 F1 world titles in eight years is a testament to that."
Jad added: "It didn't come as a surprise for me that Toto extended his contract. He's related to the team, he co-owns it. Thus it makes sense for him to keep going. For many reasons. First of all, with who are you going to replace Wolff at the helm of Mercedes? Who are you going to get these days? Mattia Binotto? That won't work.
"So this is the first thing. But at some point, you also feel that maybe Mercedes need to refresh their leadership maybe they need to have a new face up there. Look, we all respect what Wolff did over the years at Mercedes but he has made some gaffes along the way," reckoned Jad.
In this latest vlog, both our chaps have a lot more to say about Wolff remaining on our F1 radar until at least 2025.
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