Long-standing McLaren boss Ron Dennis has parted company with the British Formula One team after losing a bitter boardroom dispute with his fellow shareholders.
The announcement on Tuesday brings to an end his 36-year stay with the team whom he spearheaded to a number of driver and constructors’ championships. Dennis was also instrumental in Lewis Hamilton’s grand prix career after signing him for McLaren in 2007.
Dennis, 69, last week failed in a High Court bid to stop the McLaren board from placing him on gardening leave until his contract expires in January.
But following lengthy discussions yesterday, Dennis has revealed he will be relinquishing his position as chairman and chief executive of one of the sport’s most successful teams.
“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,” Dennis said.
“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. 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.”