Mercedes F-1 Team Adds New Board Members

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Mercedes-Benz Grand Prix Ltd has confirmed two new board members. (Steve Etherington photo)

STUTTGART, Germany – Mercedes-Benz Grand Prix Ltd has confirmed the nomination of a new non-executive chairman and the appointment of a new non-executive director.

Markus Schäfer, member of the Board of Management of Daimler AG responsible for Group Research and Mercedes-Benz Cars Development, has been nominated as the non-executive chairman of the board. Markus has been a non-executive director of MGP since March 11.

Frank Markus Weber, Vice President Corporate Development of Daimler AG, has also been appointed as a non-executive director, effective immediately. This follows the departures from the MGP board of Ola Källenius, now chairman of the Board of Management of Daimler AG & Head of Mercedes-Benz Cars, and Bodo Uebber, both of whom stepped down from their board functions on May 22.

Markus and Frank Markus join the existing board members Britta Seeger, member of the Board of Management of Daimler AG responsible for Mercedes-Benz Cars Marketing and Sales; René Berger, Managing Director of next.march; and Toto Wolff, Team Principal & CEO of MGP.

“Mercedes-Benz is a driving force in the transformation to emission-free mobility,” said non-executive Chairman Markus Schäfer. ‘To maintain personal mobility, cutting-edge technology is required to push boundaries and redefine standards, and this can only be achieved by focusing on a shared goal and through fantastic team spirit. Our learnings from the exciting world of Formula One have brought us valuable and inspiring synergies, and I am looking forward to build upon that close cooperation.”

“The commitment of our parent company has been fundamental to the team’s success and will continue to be so in the years ahead,” said Wolff. “This support for Formula One has always been reflected in our team’s board, with strong representation from Daimler’s senior leadership, and it continues through the appointments of Markus and Frank Markus for the years ahead. Formula One is a powerful technology and marketing platform for Mercedes-Benz globally, and a valuable shop window for the company’s values and its competitiveness.”