The 52-year-old guided Mercedes to eight successive Constructors’ Championships from 2014-21.
Toto Wolff, the team principal and chief executive of the Formula One team Mercedes, has recently inked a three-year contract extension.
The Austrian, who holds a one-third stake in the team, disclosed this news after a productive meeting with INEOS and Mercedes-Benz, the fellow shareholders.
Since 2013, Wolff has been responsible for the daily operations of the team.
Under his leadership, Mercedes has achieved an impressive feat of securing eight consecutive Constructors’ Championships from 2014 to 2021.
Mercedes secured the second place position behind Red Bull in 2023, while their renowned driver Lewis Hamilton achieved a commendable third place in the drivers’ championship last season.
“As a shareholder, my ultimate goal is to maximize the return on investment. And the ultimate return on investment is victory,” Wolff expressed to the Daily Telegraph on Monday.
“I am not inclined to cling onto a position if I believe someone else can outperform me. I surround myself with individuals who can provide me with alternative perspectives. Ultimately, the three of us reached a consensus: ‘Let’s give it another shot’.”
The primary concern for me is consistently experiencing bore-out rather than burnout. Hence, I wholeheartedly welcome the current challenges we face, despite their occasional overwhelming nature.
The team’s confirmation of unveiling their new car for 2024, to be driven by Hamilton and George Russell, at Silverstone on 14 February, puts an end to the speculation surrounding Wolff’s future in the team principal role.
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