Frank Williams is to hand over day-to-day responsibility of the team he founded to chief executive officer Adam Parr. Williams will remain team principal and the majority shareholder in his team.
Williams have also confirmed they will continue using Cosworth engines in 2011.
Adam joined Williams in 2006 as Chief Executive Officer. He has taken the lead in putting the team on a stronger financial footing, developing new businesses and building our social responsibility programme. These initiatives have seen us partnering with such outstanding organisations as Porsche and Cambridge University Press respectively in hybrid technology and education.
I have now asked him to step up to Chairman in my place to give him both the responsibility and the authority to ensure the good running of all aspects of the team and the company.
Former chief operating officer Alex Burns has been promoted to chief executive officer in Parr’s place.
Read more: Williams team information
Image (C) Williams/LAT