Ron Dennis is back in charge at McLaren and will be taking a "thorough and objective review" of the operation in the coming weeks.
The McLaren Group have announced that Dennis has been appointed to the additional role of Group Chief Executive Officer of McLaren Group with immediate effect.
The Brit's new position comes amidst rumours that Martin Whitmarsh's position as McLaren team boss is under threat.
But while Dennis made no mention of that, he has vowed to review the team's operations.
"My fellow shareholders have mandated me to write an exciting new chapter in the story of McLaren, beginning by improving our on-track and off-track performance," he said.
"Over the coming weeks I intend to undertake a thorough and objective review of each of our businesses with the intention of optimising every aspect of our existing operations, whilst identifying new areas of growth that capitalise on our technologies, and where appropriate further investing in them.
"During February, I will articulate a new Group strategy and implement the organisational structure best suited to achieving it.
"I am excited by the prospect of returning to the role of Group Chief Executive Officer and working with my many colleagues and fellow shareholders to fulfil our objective - which is to win at whatever we do."