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Ron Dennis Steps Down From McLaren Role
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Ron Dennis has been forced to relinquish his position as chairman and chief executive officer of the McLaren Technology Group (MTG), following a meeting of shareholders on Tuesday. However, he remains a shareholder and a director of McLaren Technology Group.
Dennis, who has been part of McLaren since 1980, helping lead their F1 team to 20 world championship titles, was placed on gardening leave until his current contract expires in January.
The news follows ongoing disagreement between Dennis and the group’s majority shareholders over management style and the future path of the business.
Dennis says he intends to launch a new technology investment fund once his contractual commitments with McLaren expire.
McLaren Technology Group is now in the process of seeking a new Chief Executive Officer. Until such an appointment has been made, the company will be run on an interim basis by an Executive Committee comprising the Group’s majority shareholders, in close collaboration with the Board of Directors and the senior management team.
Dennis, who has been part of McLaren since 1980, helping lead their F1 team to 20 world championship titles, was placed on gardening leave until his current contract expires in January.
The news follows ongoing disagreement between Dennis and the group’s majority shareholders over management style and the future path of the business.
Dennis says he intends to launch a new technology investment fund once his contractual commitments with McLaren expire.
McLaren Technology Group is now in the process of seeking a new Chief Executive Officer. Until such an appointment has been made, the company will be run on an interim basis by an Executive Committee comprising the Group’s majority shareholders, in close collaboration with the Board of Directors and the senior management team.
