Dorilton Capital, the new owner of the Williams Formula 1 team, is conducting a review of the formation of the team’s management as part of its wide-ranging evaluation of the company according to driver George Russell.
The primary focus of the review of the company is on where to invest and how to direct resource in order to build on the progress shown on track this season.
It is expected that there will not be significant staff changes throughout the company, but Russell has said that the management side of Williams is also being reviewed.
“They’re in a full review of what changes need to be made” :: George Russell
Such a review would be standard practice after any takeover, as after completing its due diligence before the sale the new owner must now settle on the detail of how it wants the Williams team to proceed and the composition of the board.
It’s understood that the team is set to repay its existing debt and begin a programme aimed at improving performance both in terms of capital and operational spending as part of Dorilton’s plan to move further up the grid.
When Russell was asked in a press conference at Spa today “do you know who your boss will be going forward”, he revealed he had spoken with Matthew Savage, chairman of Dorilton Capital about the takeover.
While deputy team principal Claire Williams is in day-to-day charge, the new owner must now set the long-term direction.
“Well I spoke with Matthew Savage this morning, who is the chairman of the company,” said Russell in response to the question.
“At the moment, they’re in a full review of what changes need to be made, who will be forming the management side of the company.
“So as it currently stands, really pleased to see the news and fully focused on the weekend at hand.”
According to Dorilton Capital’s website, Savage is the chairman of all its portfolio companies, therefore it is logical to expect he will take the position at the head of the Williams board.
It is not clear how wide ranging any other changes would be, although Dorilton Capital also stresses its commitment to stability and continuity and will look to build on the progress made by the team this year after its 2019 nadir.
Frank Williams is currently team principal, with Claire Williams as deputy. Claire Williams also sits on the board, with Group CEO Mike O’Driscoll, chief financial officer Doug Lafferty and general counsel Mark Biddle the other members. The heritage side of Williams is overseen by Jonathan Williams, Frank’s son.
Williams has recently made several key appointments below board level, with Simon Roberts coming in as managing director plus David Warner and Jonathan Carter joining as chief designer and deputy chief designer respectively and understood to have had a positive impact on the team.
Russell talked up the importance of retaining the name to the identity of the team and the culture that exists at the Grove outfit.
“Obviously, the Williams family has been a huge part of Formula 1,” said Russell when asked whether he thought a member of the family should continue to be involved.
“The most important thing with this change of ownership is the name, that side of things will be continuing, which I think is very important.
“The Williams family would not have sold to somebody who they didn’t believe would be beneficial for the team moving forward, so I’m very pleased.
“The team environment and the culture that’s been cultivated here over so many years, I would hope that that would stay” :: Nicholas Latifi
“They’ve come to that decision because they believe it’s the best for the future of the team, the culture will not be changing from a historic side.
“Keeping the name of the team is very important for us drivers and the people back at base.”
Both drivers have said that the sale of the team makes no difference to their positions for 2021 after they were confirmed as staying on last month.
But Russell’s team-mate, Nicholas Latifi, said that he wanted to see the DNA and the culture of Williams preserved.
“Yeah, to emphasise that the DNA of the team that it’s always being a family-run team, I’m sure that side of things will not change, which is part of what makes Williams Williams,” said Latifi.
“Beyond that it’s still far too early to comment or speculate on anything, but as I’ve been with the team, really enjoying that side of things, the team environment and the culture that’s been cultivated here over so many years, I would hope that that would stay.”
