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Ron Dennis to step down as McLaren chairman

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Ron Dennis has announced he’ll have to step down as chief executive and chairman at McLaren Technology Group, in a release out on Tuesday.

This will bring to an end a run of more than 35 years at the head of McLaren, after a decision was taken by majority shareholders to place him on gardening leave.

Dennis will remain on the boards of both MTG and McLaren Automotive Limited and a significant shareholder in both, he’s set to launch a new technology investment fund in 2017.

All told though, Dennis expressed regret at the way his time at the top is ending.

Dennis’ statement reads as follows, below:

“I am disappointed that the representatives of TAG and Mumtalakat, the other main shareholders in McLaren, have forced through this decision to place me on gardening leave, despite the strong warnings from the rest of the management team about the potential consequences of their actions on the business.

“The grounds they have stated are entirely spurious; my management style is the same as it has always been and is one that has enabled McLaren to become an automotive and technology group that has won 20 Formula One world championships and grown into an £850 million a year business. Throughout that time I have worked closely with a series of talented colleagues to keep McLaren at the cutting edge of technology, to whom I will always be extremely grateful.

“Ultimately it has become clear to me through this process that neither TAG nor Mumtalakat share my vision for McLaren and its true growth potential. But my first concern is to the business I have built and to its 3,500 employees. I will continue to use my significant shareholding in both companies and my seats on both boards to protect the interests and value of McLaren and help shape its future.

“In addition I intend to launch a new technology investment fund once my contractual commitments with McLaren expire. This will capitalise on my expertise, my financial resources, together with external investment to pursue the many commercial opportunities I have been offered in recent years but have been unable to take up while being so committed to the existing business.”

McLaren Technology Group has confirmed Dennis’ step-down from that role and now has confirmed it’s looking for a new CEO.

As of this afternoon Ron Dennis no longer holds the position of Chief Executive Officer of McLaren Technology Group (or its subsidiaries). However, he remains a shareholder and a director of McLaren Technology Group.

Over the past 35 years Ron’s contribution to the success of McLaren has been colossal. During his tenure the team won 17 World Championships and 158 Grands Prix, making him the most successful leader in Formula 1 history. Like the company’s founder, Bruce McLaren, Ron is and will always be one of the true greats of the sport.

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, all of whom remain utterly committed to the company, its partners, its employees and its fans, and share a passionate determination to build on our many strengths towards future prosperity.

Zach Veach splits with Andretti Autosport for rest of IndyCar season

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Zach Veach will be leaving his Andretti Autosport ride with three races remaining in the season, choosing to explore options after the decision was made he wouldn’t return for 2021.

In a Wednesday release, Andretti Autosport said a replacement driver for the No. 26 Dallara-Honda would be named in the coming days. The NTT IndyCar Series will race Oct. 2-3 at the Indianapolis Motor Speedway road course and then conclude the season Oct. 25 on the streets of St. Petersburg, Florida.

Veach was ranked 11th in the points standings through 11 races of his third season with Andretti. Since a fourth in the June 6 season opener at Texas Motor Speedway, he hadn’t finished higher than 14th.

“The decision was made that I will not be returning in 2021 with Andretti Autosport in the No. 26 Gainbridge car,” Veach said in the Andretti release. “This, along with knowing that limited testing exists for teams due to COVID, have led me to the decision to step out of the car for the remainder of the 2020 IndyCar season. I am doing this to allow the team to have time with other drivers as they prepare for 2021, and so that I can also explore my own 2021 options.

“This is the hardest decision I have ever made, but to me, racing is about family, and it is my belief that you take care of your family. Andretti Autosport is my family and I feel this is what is best to help us all reach the next step. I will forever be grateful to Michael and the team for all of their support over the years. I would not be where I am today if it wasn’t for a relationship that started many years ago with Road to Indy. I will also be forever grateful to Dan Towriss for his friendship and for the opportunity he and Gainbridge have given me.

“My love for this sport and the people involved is unmeasurable, and I look forward to continuing to be amongst the racing world and fans in 2021.”

Said team owner Michael Andretti: “We first welcomed Zach to the Andretti team back in his USF2000 days and have enjoyed watching him grow and evolve as a racer, and a person. His decision to allow us to use the last few races to explore our 2021 options shows the measure of his character.

“Zach has always placed team and family first, and we’re very happy to have had him as part of ours for so many years. We wish him the best in whatever 2021 may bring and will always consider him a friend.”

Andretti fields five full-time cars for Veach, Alexander Rossi, Ryan Hunter-Reay, Marco Andretti and Colton Herta.

It also has fielded James Hinchcliffe in three races this season.