Toto Wolff Extends Contract As Mercedes Boss

 

Ahead of the kick off of the 2024 Formula One season, Mercedes principal Toto Wolff has extended his contract with the racing team for another three years. 

Wolff has for the past eight years been Mercedes team boss, and as the head of the constructors, he has won eight successive F1 season championships for the team. However, for the past three seasons, the team has seen their dominance slide away as red Bull gained traction on the tracks and winning the races. 

Speaking in an interview on continuing his role with the team he co-own with two other investors, Sir Jim Ratcliffe and Ola Kallenius, he emphasied on the need to ensure they get their money's worth by "winning" races. 

"At the end of the day, as a shareholder myself, I want the best return on investment. And the best return on investment is winning," said Wolff. "I'm not going to try to hang on to a position that i think somebody is going to do better than me."

As the new season draws near, Wolff acknowledged the challenges faced with handling executive and non-executive roles in the team as a task he can described as more of "bore-out than burnout."