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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.

NHRA: Steve Torrence’s 2nd Top Fuel title was emotional roller coaster day

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There’s no question Steve Torrence is a proud Texan. When he’s not strapping on his racing helmet, the Kilgore, Texas resident proudly wears a black cowboy hat and shiny boots practically everywhere he goes.

It’s just part of who one of the Lone Star State’s favorite sons is.

Torrence also has a great deal to be proud of after winning his second consecutive Top Fuel championship in Sunday’s NHRA season-ending national event at Pomona, California.

In doing so, he joins seven of the biggest names in drag racing history to win back-to-back titles: Don Garlits, Joe Amato, the late Scott Kalitta, Gary Scelzi, Tony Schumacher, Larry Dixon and Antron Brown.

Torrence followed up last season’s 11 wins – including being the first driver to win all six Countdown to the Championship playoff races – with nine wins in 2019, giving him 36 career wins and 55 final round appearances in his career.

But as he was interviewed shortly after he clinched the championship — even though he lost in the semifinal round of eliminations — instead of being effusive and ecstatic, Torrence was also uncharacteristically somewhat solemn and melancholy at the same time.

After publicly thanking his team – “the best in the business,” as Torrence frequently says – he also quickly paid tribute to a young man from Texas by the name of Brandon Seegers, who was tragically killed in an ATV accident last week (the young man in glasses is pictured in the tweet below).

Torrence wanted the world to know who Brandon was, calling him one of Torrence Racing’s biggest fans. It wasn’t lip service. Brandon – a 15-year-old freshman football player at Carthage (Texas) High School – truly was one of Torrence’s biggest supporters. He’ll be buried Tuesday.

Torrence also paid tribute to Brandon’s parents. The young man’s father has worked 30 years for Capco Contractors Inc., an oil and gas company owned by Torrence’s family. In a sense, because of their close relationship, Brandon and his parents are extended members of the Torrence family.

“This is for the Seegers family, who lost their little boy the Wednesday of last week,” Torrence said. “He was the biggest Capco fan there was. We’re taking the championship trophy home to him. We’re going to give it to all the Capco guys and his family.”

Admit it, when was the last time you heard someone in sports win a championship and then dedicate that effort to a young fan who was tragically killed just a few days earlier in an accident.

But that’s the kind of guy Torrence is, one of the classiest individuals in motorsports. And if you don’t really know who he is, you should, because you might understand why Torrence is who he is.

At the age of 36, Torrence is not just a survivor of the 1,000-foot dragstrips wars from New Hampshire to Seattle to Phoenix to Gainesville and everywhere in-between.

He’s also a survivor of something much more important: Before he was Steve Torrence, two-time NHRA Top Fuel champ, he was Steve Torrence, cancer and heart attack survivor. That kind of thing gives someone a much different perspective than most other individuals.

Torrence knows how fortunate he is to not only be a two-time champion, but more importantly, to be alive to earn and enjoy both of those titles. He came close, really close, to not being here anymore. That’s why Brandon’s death hit Torrence so hard.

He even tried to keep from choking up when he told the crowd about who his young friend Brandon was.

Torrence spent much of the weekend at Pomona thinking about his young fan. It definitely affected Torrence’s mindset and demeanor, especially on Sunday, with the pressure packed championship on the line.

To illustrate how different Torrence acted, he was involved in an incident after the first round that was completely out of character. While he may be one of the most competitive drivers on the NHRA circuit, he’s also normally a very level-headed, calm and cool persona.

Torrence uncharacteristically slapped young opponent and part-time Top Fuel driver Cameron Ferre in the face at the end of the drag strip after they climbed from their race cars following their first round run and exchanged words.

Normally a fan favorite, Torrence was uncharacteristically criticized on social media and was met with a wave of fan boos after the race when he climbed on stage to accept his championship trophy and the big check that came with it. A contrite Torrence eventually issued a public apology to both Ferre and fans, admitting he was wrong. The NHRA is reviewing the incident and still could penalize Torrence.

“Tensions are high,” Torrence told NHRA.com. “There’s a lot of crap going on out there, but there’s still no excuse for me acting that way. I apologize to every fan, all my racing friends and racing rivals. It was a heat-of-the moment reaction on a day when emotions were high, especially in the Capco camp. I talked to Cameron and we’ll just put it behind us and move on.”

Given the championship pressure and what he was enduring emotionally, Sunday may not have been Torrence’s finest moment or best day professionally or personally. But at the same time, he further cemented why he’s on his way to becoming one of the best drivers in Top Fuel history, that he makes mistakes and was man enough to admit when he made one.

He also cares for others and what they go through perhaps more than most because he himself came so close to not being around to enjoy the success he has enjoyed to date – and all the additional success that he’s likely to continue to enjoy for many more years to come.

 

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