Just hours after announcing that the Williams family will walk away after the Italian GP, the team have revealed their new board of directors.
Claire Williams has served as deputy team principal since 2013, taking over from her father Sir Frank who co-founded the team in 1977.
However, Williams was sold recently to private equity fund Dorilton and it was announced that the Williams family would step down from their duties within the team following the Italian Grand Prix at Monza, marking the end of an era.
And with the new ownership now in place, a new board of directors has been announced.
Matthew Savage, Darren Fultz and James Matthews will make up the new board, as announced by the Williams website.
Matthew Savage is the Chairman of Dorilton Capital and has led the company since it was founded in 2009.
Darren Fultz co-founded Dorilton Capital in 2009, before becoming CEO in 2018.
Former British racing driver James Matthews is the CEO of Eden Rock Group, an investment advisory firm established in 2001.
Williams claim that the co-founders of Eden Rock “have a background in motorsports spanning more than 30 years.”
The statement adds that the new board “recognises and appreciates the importance of retaining Williams’ heritage and culture.”
"There's always going to be a special place in my heart (for them) as Claire and Frank gave me the opportunity to cut my teeth in F1. They trusted me to represent them, their name, and all the employees who work for the team. It's always something I'll remember."@NicholasLatifi pic.twitter.com/qfHRHQ1HZg
— Williams Racing (@WilliamsRacing) September 3, 2020
In her own statement, departing deputy team principal Claire Williams said: ““It is with a heavy heart that I am stepping away from my role with the team.
“I had hoped to continue my tenure long into the future and to preserve the Williams family’s legacy into the next generation. However, our need to find inward investment earlier this year due to a number of factors, many of which were outside of our control, resulted in the sale of the team to Dorilton Capital.
“My family has always put our racing team and our people first and this was absolutely the right decision. I know in them we have found the right people to take Williams back to the front of the grid while also preserving the Williams legacy.
“I have taken the decision to step away from the team in order to allow Dorilton a fresh start as the new owners. It has not been an easy decision but it’s one I believe to be right for all involved. I have been enormously privileged to have grown up in this team and in the wonderful world that is Formula One.
“I have loved every minute and will be forever grateful for the opportunities it has given me. But it’s also an incredibly challenging sport and I now want to see what else the world holds for me. Most importantly, I want to spend time with my family.
“I would like to thank Dorilton for their support and for understanding my decision. I would also like to thank our fans who have stuck by us through thick and thin.
“Our people at Williams have always been family, they have kept me motivated during the difficult times and it is them who I will miss the most. It is my genuine hope that the process we’ve gone through brings them the success they deserve. And finally, I would like to thank my Dad for everything he has given to the team, the sport and our family.”