The owners of the Mercedes team, Toto Wolff and Niki Lauda, have extended their contracts until 2020. The group’s president, Dieter Zetsche, was very satisfied with the results achieved in recent years in Formula 1.
Toto Wolff and Niki Lauda, who co-direct the Mercedes F1 team since 2013 as executive director and non-executive chairman respectively, have extended their contract until 2020 with the German team, said the automotive group Monday.
During the period led by Wolff and Lauda, triple world champion in F1, “the results have exceeded our expectations” , said the chairman of Daimler (which owns Mercedes), Dieter Zetsche. “A key to this success was the mixture of entrepreneurial qualities with Toto and the experience of Niki”, he added.
Mercedes dominated the world F1 championship since 2014, the team having won three constructors championships and drivers championship titles with Lewis Hamilton (2014 and 2015) and Nico Rosberg (2016). Rosberg announced his retirement in the wake of his title. Wolff and Lauda are now linked to Mercedes until the end of the commitment of the team in the Formula One world championship secured by the Concorde Agreement (governing the economics of Formula One) signed in 2012.