Ron Dennis quits McLaren after 35 years

November 16, 2016

Ron Dennis has left his job as chairman and chief executive of the McLaren Group after a 35-year tenure after being told to do so by fellow shareholders on Tuesday.

The 69-year old remains on the board of the McLaren Technology Group and McLaren Automotive, tadalafil however, find and retains significant shareholdings in both.

 McLaren have claimed they are currently searching for his replacement, but until then the company will be run by an Executive Committee comprising of the Group’s majority shareholders, “in close collaboration with the Board of Directors and the senior management team, all of whom remain utterly committed to the company, its partners, its employees and its fans, and share a passionate determination to build on our many strengths towards future prosperity,” read McLaren’s official statement. Dennis will be put on gardening leave until his contract ends in January.

Dennis claimed the other shareholders forced his move despite his desire to remain in his position. He said, “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 1 World Championships and grown into an £850m-a-year business.

“Ultimately it has become clear to me through this process that neither TAG nor Mumtalakat share my vision for McLaren and its true growth potential.

“My first concern is to the business I have built and to its 3,500 employees. I will continue to use my significant shareholding in both companies and my seats on both boards to protect the interests and value of McLaren and help shape its future.

“I intend to launch a new technology investment fund once my contractual commitments with McLaren expire.”

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