4
Former McLaren CEO Ron Dennis is set to sever all ties with McLaren, a team he's had an association with from the early 80's. Dennis was placed on gardening leave at the end of last season after losing control of the board.
Now, he will be cutting himself from the team, selling his shares which are worth a reported £275 million. A confirmation of the separation between McLaren and Dennis is expected Friday morning. According to sources, the McLaren Technology Group and McLaren Automotive Limited now merge under the name McLaren Group. Dennis was at the helm of McLaren for more than 35 years, bringing great success.
"I am very pleased to have reached agreement with my fellow McLaren shareholders," Dennis said in a statement. "It represents a fitting end to my time at McLaren, and will enable me to focus on my other interests. I have always said that my 37 years at Woking should be considered as a chapter in the McLaren book, and I wish McLaren every success as it takes the story forward.
"Perhaps my greatest satisfaction is the Formula 1 team’s outstanding racing safety record, which is a tribute to the dedication and efforts of hundreds if not thousands of talented and conscientious employees whom I have had the privilege of leading."
He continued: "Now that my time at McLaren has come to an end, I will be able to involve myself in a series of other programmes and activities, especially those focused on public service. I will continue to indulge my passion for supporting contemporary artists and collecting their work, but most of all I will be driving new ideas and projects forward."
Fergal Walsh
Grand Prix of BelgiumLocal time
Grand Prix of BelgiumLocal time
Bahrain International Circuit - Winter testing
M. Verstappen
C. Sainz jr
C. Leclerc
Bahrain
United Arab Emirates
Bahrain
Bahrain International Circuit
Bahrain
Bahrain International Circuit
Saudi Arabia
Jeddah Street Circuit
Australia
Albert Park
Japan
Circuit Suzuka
United States of America
Miami International Autodrome
Monaco
Monte Carlo
Canada
Gilles Villeneuve
Spain
Circuit de Catalunya
Austria
Red Bull Ring
United Kingdom
Silverstone
Hungary
Hungaroring
Belgium
Spa-Francorchamps
Netherlands
Circuit Zandvoort
Italy
Monza
Azerbaijan
Baku City Circuit
Singapore
Marina Bay Street Circuit
United States of America
Circuit of the Americas
Mexico
Autodromo Hermanos Rodriguez
Brazil
Interlagos
United States of America
Las Vegas Street Circuit
United Arab Emirates
Yas Marina Circuit
United Arab Emirates
Yas Marina Circuit
1,738 comments on Arden International
0 members have this team as their favourite
Tweets about Jake Dennis
283,664 comments on McLaren 156 members have this team as their favourite Tweets about McLaren
Replies (4)
Login to replyf1fan0101
Posts: 1,804
Perhaps to fund a new deal for a team...?
ajpennypacker
Posts: 2,475
I didn't like Dennis as a manager but his historical significance cannot be denied, and I consider it a bit sad for him to leave like this. Best of luck to him.
calle.itw
Posts: 8,527
I completely agree. I almost feel the same way about Dennis as I do about Ecclestone... Almost. He used to be good for F1, but times changed, and McLaren needed a change in leadership.
Wolfgang
Posts: 313
275 Million Pounds. I just need time to let that sink in..