Sir Frank steps down as team chairman of Williams

Parr to take over role; Team to continue using Cosworth power

Sir Frank Williams has relinquished his role as chairman, at the team which bears his namesake, with Adam Parr taking over the role.

Although the 68-year-old will continue as Team Principal and co-owner of Williams, he believes that it is the right time to hand over the position to Parr.

“Adam joined Williams in 2006 as Chief Executive Officer.” Williams said in an article published on the team’s official website. “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.”

However Williams does not see the announcement as the beginning of his exit from the sport, and is quoted by BBC Sport as saying:

“This is not notice of my impending retirement. Time is evolving. There are a few more years in me yet, and in Patrick, but it is better to do it early,”

“I will continue to go to work every day. But it must be as apparent to you as it is to me that Adam is the right person to run this company.

“Adam has a very strong education and a good career in the management of British companies. We clearly hope the company has a very strong future.

“It’s my job and Patrick’s job to ensure Williams is a properly run company that will be successful in F1.”

Speaking after the announcement was made, Parr expressed his honour at assuming the post and revealed this his former position, as CEO would be taken by Alex Burns.

“It is both a great honour and a big responsibility to take over Frank’s role as Chairman of Williams.” he said. “Frank remains our controlling shareholder and Team Principal and he will always be the name, the face and the inspiration of this team.”

“My aspiration is to ensure that the team and the company are run to the high standards that Frank and Patrick Head have always demanded, both on and off the track. In this, I am fortunate to count on dedicated partners, a strong board and, above all, a great team of dedicated and talented people at Grove.

“I am also pleased to announce that Alex Burns steps up from the role of Chief Operating Officer to that of Chief Executive Officer. In addition to his  responsibilities for the production side of Williams F1, Alex chairs Williams Hybrid Power Limited and the Williams Technology Centre in Qatar.”

Additionally, Williams also announced that it would again be powered by Cosworth in 2011.

“We are with Cosworth and I am very happy to confirm that that will continue next season,” Parr told reporters at Silverstone on Thursday.

“In the long-term, the best model for an independent Formula 1 team is to have a partnership with a car manufacturer that provides engines, some sponsorship and wants to go racing,” he said.

“The team has had some fantastic partnership with BMW, Honda and Renault in the past and I think that’s ultimately where we would like to go again.”