Toto Wolff and Mercedes have not yet identified a potential successor.
Toto Wolff says he and Mercedes haven’t yet figured out who might succeed him in his role as team boss when he wants to take a step back.
Over the past decade, Wolff has held the positions of team principal and CEO for Mercedes’ F1 squad, while also serving as the head of Mercedes’ global motorsport programme. During this time, he has carefully considered a succession plan for the team.
Toto Wolff: The day will come but not yet
This year, Wolff celebrated his 52nd birthday and has previously expressed his intention to step back from leading the F1 team on the frontlines. He aims to reduce his attendance at every race due to the increasingly long calendars that have developed in recent years.
In the past year, it seemed that a succession plan had been implemented, as Jerome d’Ambrosio was identified as a potential successor to Wolff and had been mentored by the Austrian.
However, d’Ambrosio decided to leave Mercedes and return to Europe for personal reasons. As a result, he departed earlier this year and has now been recruited by Ferrari as their deputy team boss. He will commence his role with the Scuderia in October of this year.
Consequently, Wolff, who holds a 33 percent stake in the F1 team, and Mercedes find themselves in the same position again. Although finding a successor is not an urgent matter currently, the Austrian acknowledges that the time will come when the right person for the job will emerge.
Wolff informed the Press Association that there have been instances in the past when he suddenly realized that there might be someone who could perform a particular task more effectively.
“Whether it be due to their abundance of energy, intellect, wisdom, or empathy.”
“We haven’t yet identified who the next person will be, but we believe that day will come, working together with INEOS and Daimler, Mercedes co-owners.”
Wolff expressed no inclination to step down from his position in the near future, despite the challenges faced in recent seasons.
“I still love it,” he said.
“Perhaps, one day I’ll awaken and find that my passion has waned. It’s possible that circumstances may change, and I won’t remain the team principal anymore. However, this is the path I have willingly embraced alongside my co-shareholders.”
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After signing a fresh three-year agreement to continue as the team principal of the F1 team, Wolff affirmed his ability to self-reflect and ensure his suitability for leading the team. He also stressed that it is highly improbable for him to sell his ownership stake.
He stated that he has always possessed a strong inclination towards self-criticism and introspection.
“Do I excel in this area? Am I engaged in a field where I possess strong comprehension and believe I can make a meaningful impact?”
I constantly ponder over this question, and after three decades, I have come to the conclusion that I am a co-owner of this business. Regardless of my role as team principal, CEO, or chairman, I am committed to remaining a co-owner.
I have recently committed to a new three-year contract, which solidifies my position as a long-term member of the organization. Barring any unforeseen circumstances, such as unfortunate demise, I anticipate occupying different roles within the top management during this period.
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