Damon Hill will resign his position as head of the British Racing Drivers’ Club in August.
Hill has been president of the BRDC since 2006. In his time the circuit has signed a new, 17-year deal to host the British Grand Prix.
Extensive renovations have been made to the circuit including a new section of track used for the first time last year and the Silverstone Wing pit and paddock complex.
Hill said: “It has been a great privilege and honour to serve as BRDC President since 2006.
“As a club and business, we can be immensely proud of everything we have achieved for British motor sport over the past few years. The BRDC and Silverstone face a stable and exciting future, so the timing is right for me to hand over the reins and devote more time to my family, my own interests, and the racing career of our son, Josh.
“However, I remain a committed member of the BRDC and look forward to watching the club go from strength to strength.”
BRDC chairman Stuart Rolt said: “I cannot speak highly enough of the superb work that Damon has carried out since his appointment as BRDC President.
“We owe him an immense debt of gratitude for the commitment and energy he has put into being the public face of the Club, and therefore Silverstone, at times of uncertainty and then great optimism.
“We will miss his low-key, no-nonsense approach to life, and wish him all the best.”
BRDC board director Derek Warwick will stand as a candidate to replace Hill as President, and has the unanimous support of the BRDC board.
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