Mercedes Formula 1 team boss Toto Wolff has sold his last remaining shares in Williams to American businessman Brad Hollinger.
Wolff first invested in Williams in 2009 before joining Mercedes in 2013 as an executive director and agreed to gradually sell off his shares in the British team.
In a press release issued earlier this week, Wolff confirmed that he had now sold his final shares in Williams to Hollinger, cutting all ties with the team.
“I am surprised how emotional I am about this day, to be cutting my final business ties to Sir Frank [Williams] and to the team at Williams,” Wolff said.
“Having entered the team from a pure investment perspective, I soon found myself in a much more active role, helping to restructure this great independent Formula 1 team.
“I am proud to have joined the sport with a team of true passionate racers, where we had to make spot-on decisions for the future of the business and its employees.
“I learned some lessons the hard way, but they were all valuable for understanding the industry.”
Wolff expressed his faith in Hollinger as an investor before wishing Williams the best of luck for the future.
“It was always important to find the right investor, who was doing it for the right reasons. Brad is that guy,” Wolff said.
“He’s a serious businessman with the right long-term perspective about Williams and Formula 1, and a true passion for racing. I wish him and everybody at Williams all the best for the future.
“I will always remember this period with thanks for the lessons I learned from Sir Frank and his team – it was a great privilege to be part of the Williams story.”