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Can Toto Wolff Leave the Team and Still Own Mercedes?

Toto Wolff says a clean break is probably not possible if he and his family keep owning the team. An executive or non-executive chairmanship may happen, and it has to happen in a very precise way. A chairman cannot stay on the sidelines and interfere in daily business.

His job is going to be divided between two or three people he is vetting, people he believes are already doing a great job with their strengths in various areas. There will be a solid management structure, even though the setup will not be the same without the credibility he has as an entrepreneur leading his own businesses. He does not want a future where the family runs the team and the result is just mediocre. A person has to earn the spot and contribute, and his children have no interest in running it. As chairman, executive or non-executive, he would need to know the role exactly: call the drivers to keep contact, and not sit on the grandstand saying they screwed up and explaining how he would have done it.

He would aim for that later. He is still enjoying running the team too much for the change to be immediate.

Grokipedia·Toto Wolff

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How Toto Wolff built the most valuable team in F1 ·

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More from this episode

  1. How Early Can You Spot a Formula 1 Driver?Toto Wolff says a kid's karting shows pretty early whether that kid can become a professional racing driver. Even the tiny ones stand out against their peers.
  2. Why Does Mercedes Refuse a Genius Asshole?Toto Wolff says an extraordinary scientist or engineer without humility, integrity, honesty, and enthusiasm has no future at Mercedes, and there is no place…
  3. Why Did the Formula 1 Cost Cap Shrink Long-term Research?Toto Wolff says the Formula 1 cost cap, about 200 and a bit million dollars a year, shrinks long-term lab work because every engineering resource counts…
  4. Why Is Toto Wolff in Two Minds About Formula 1 Rules?Toto Wolff is in two minds about writing the Formula One rules. The innovation part of him, and the engineers he listens to, want free reign.
  5. Was Toto Wolff a Private Equity Investor?Toto Wolff was neither a private equity investor nor a venture capital investor.
  6. How Did Toto Wolff Buy Into the Mercedes Team?Toto Wolff says Mercedes asked him to run the team because a corporate structure was not winning, then helped him buy a stake he could not afford on his own.
  7. Why Can an Owner Take a Longer Bet Than a Hired Boss?Toto Wolff says an owner can make a call and keep the job, while a hired boss who skips the hierarchy can lose the job for the same decision.
  8. How Much Profit Does the Mercedes Formula 1 Team Make?Toto Wolff says Mercedes Formula 1 generates around a billion dollars in revenue and a 30 percent profit margin, about 300 million of EBIT.
  9. Why Does Toto Wolff Refuse to Sell Mercedes?Toto Wolff says none of the owners wants to sell Mercedes shares, because they believe in the long-term path of the team and the sport.
  10. Was Taking Williams Formula 1 Public a Success?Toto Wolff says listing Williams was not a success.
  11. Will the Madrid Circuit Add More Straights Next Year?Toto Wolff thinks the Madrid circuit will change its layout next year to add more straights.

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