zak brown mclaren media photo f1

Bahrain acquire 100% of McLaren Group, Brown extends until 2030

zak brown mclaren media photo f1

The Kingdom of Bahrain Sovereign Wealth Fund aka Mumtalakat has acquired full ownership of the share capital of the McLaren Group following the conversion of all preference shares into ordinary shares.

This means that Mumtalakat Holding Company acquired, in full, shares that were previously owned by TAG Group Limited 14.32%, Michael Latifi 9.84%, as well as around 17% owned by smaller owners.

On the same day and on the eve of Sunday’s Australian Grand Prix in Melrbourne, the Woking-based outfit confirmed Zak Brown has extended his contract as Chief Executive Officer (CEO) until 2030.

Shaikh Abdulla bin Khalifa Al Khalifa, Mumtalakat CEO said: “Today’s announcement crystallizes the next phase of the Company’s trajectory of growing its leadership position in the luxury supercar and motorsports industries.

“This reorganisation and new simplified structure positions McLaren for success and opens up strategic avenues, which include exploring new partnerships to enhance the company’s growth over the coming years.

“The completion of this process is also a significant milestone that reflects our support for McLaren’s continued innovation and long-term commitment to excellence,” added Shaikh Al Khalifa.

Walsh: Zak has demonstrated exceptional leadership qualities

brown norris ricciardo shoey monza podium mclaren win

Regarding American Brown’s contract extension, a company press release on the same day announced: “Brown, who initially joined McLaren Racing in 2016 as the Executive Director of Technology Group, assumed the role of CEO in April 2018.

“In his capacity as CEO, Brown has played a pivotal role in shaping the strategic direction of McLaren Racing, overseeing operational high performance across all of McLaren’s race teams and driving significant marketing and commercial development.”

McLaren Group’s Executive Chairman, Paul Walsh, said: “Zak has demonstrated exceptional leadership qualities and has been instrumental in driving McLaren Racing forward. His extension reflects our confidence in his ability to lead the team to even greater success in the years to come.”

Brown commented: “I am thrilled to continue leading McLaren Racing and to be a part of such a historic race team. It is a privilege to work alongside the talented men and women across McLaren Racing’s different race series. Together, we will continue to push the boundaries of motorsport and strive for the highest performance on and off the track.”

The Group includes McLaren Racing aka the Formula 1 team and racing projects; McLaren Automotive manufacturer of their supercars, GTs and other road vehicles; McLaren Electronic Systems, McLaren Marketing; and Absolute Taste, the latter doing the catering for the organisation and its partners.

Press Release: McLaren Group Completes Successful Capital Reorganisation

Four reasons why McLaren look best placed to bring fight to Red Bull : Press Release: McLaren Group Completes Successful Capital Reorganisation

Further to the announcement on 19 December, McLaren Group Limited (“the Group”) today announces its capital reorganisation has been completed. This marks a major milestone in the ongoing transformation journey of the luxury automotive and elite motorsports Group.

Under the reorganisation, long-term strategic investor Bahrain Mumtalakat Holding Company (“Mumtalakat”), the sovereign wealth fund of the Kingdom of Bahrain, takes full ownership of the share capital of the Group following the conversion of all preference shares into ordinary shares.

Paul Walsh, McLaren Group Executive Chairman, said: “We are delighted at Mumtalakat’s continued commitment to McLaren through this deal, which strengthens our ownership and governance structure. This will further enable us to focus on delivering our long-term business plan, including investment in new products and technologies, whilst continuing to explore potential technical partnerships with industry partners.”

His Excellency Sheikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, added: “Today’s announcement crystallizes the next phase of the Company’s trajectory of growing its leadership position in the luxury super car and motorsports industries. This reorganisation and new simplified structure positions McLaren for success and opens up strategic avenues, which include exploring new partnerships to enhance the company’s growth over the coming years.

“The completion of this process is also a significant milestone that reflects our support for McLaren’s continued innovation and long-term commitment to excellence,” he said.

The press release adds: “Over the last six decades, the McLaren brand has become one of the most successful and admired names in elite motorsport, competing around the world in Formula 1, IndyCar, Formula E, Extreme E and esports.

“Since the inception of the company’s supercar arm in 2011, McLaren Automotive has quickly grown to become one of the world’s leading and most-revered high-performance vehicle brands, with ground-breaking vehicles such as the P1, Senna and Speedtail now widely considered to be modern-day classics and icons of innovation.

“Today, the company’s product portfolio of GTS, supercar, Motorsport and Ultimate models are retailed through an expanding network of over 100 retailers in more than 40 markets around the world.”