Discuss the sport you love with other motorsport fans
Sorry, I should have copied and pasted the article, but they don't allow straight copying from pitpass..
Hmm leads me to believe something more is up. The article said that Nick and two more directors are being replaced by some folks at Aabar??
Chris Silt, must have been in some compramising position and had to pull the article..
Nick Fry has resigned from his post as chief executive of Mercedes Grand Prix and has been replaced by Mohamed Badawy Al Husseiny, the chief executive of the Aabar investment fund which owns 30% of the team.
According to Pitpass' business editor, Chris Sylt, the change was revealed through company documents filed earlier this month and they also show the resignations of the majority of the Brawn team's former management.
Ross Brawn remains a director of the team but its lawyer Caroline McGrory has also resigned as a director along with its former finance director Nigel Kerr and two other directors John Marsden and Gordon Blair. They were replaced by another Aabar director, David Forbes, as well as Norbert Haug and two other representatives of Daimler which owns 45% of the team.
It isn't known if Fry will remain in F1 but he was seen at the Lotus launch on Friday evening so perhaps he is looking to take over as team principal there after Tony Fernandes steps down as he has indicated he will.
The departure of the majority of Brawn's former management indicates that they no longer hold equity in the team with the remaining 25% believed to he held by Ross Brawn himself. Company documents do not yet confirm this however, they do reveal how the shares were split between the management before the team was acquired by Mercedes.
According to the documents, Brawn himself held 54% of the team with 31% in Fry's hands, 8% held by Kerr, 3% by McGrory, a further 3% by Marsden and 1% in Gordon Blair's name. If the team was sold for $75m (£47.9m), as has been reported, this would have given Brawn a £25.9m payout with Fry getting £14.9m, Kerr receiving £3.8m, £1.4m going to McGrory, the same to Marsden and £470,000 to Blair.
They are now saying his position at Mercedes has changed and he his now CEO.
Le coeur a ses raisons que la raison ne connaît point. 
Mercedes GP has denied that chief executive Nick Fry has quit the team as reported on various websites on Monday.
The report stated he had been replaced by Mohamed Badawy Al Husseiny, the chief executive of the Aabar investment fund which owns 30% of the team. However, Mercedes issued a terse statement, a spokesman simply stating: "I can confirm that Nick Fry remains at the team in the position of chief executive officer."
It does appear that some restructuring of the former Brawn outfit has taken place in the wake of the takeover by the German carmaker.
Representatives of new shareholders Daimler and Aabar, including Norbert Haug, have joined a new executive committee, with the likes of Fry and Brawn lawyer Caroline McGrory believed to have stepped aside.
Fry killed Super Aguri.
Le coeur a ses raisons que la raison ne connaît point. Nick sounds like Kermit the frog.
See our F1 related articles too!
