Williams has announced that the team’s principal and managing director, Jost Capito, will step down ahead of the 2023 Formula 1 season. The 64-year-old German has led the team for two years. Technical Director François-Xavier (FX) Demaison will also step down.
Williams, owned by US investment firm Dorilton Capital, will confirm its new team principal and chief technical officer “in due course”.
“It has been an immense privilege to lead Williams Racing over the past two seasons and lay the foundation for the turnaround of this great team,” Capito said in a statement. “I look forward to seeing the team continue its path to future success.”
Matthew Savage, Chairman of Dorilton Capital, said: “We would like to thank Jost for his hard work and dedication as we embarked on a major transformation process to begin Williams Racing’s recovery journey.
“We are grateful that Jost has postponed his planned retirement to meet this challenge and now he will hand over the reins for the next part of this staged process.
“We would also like to thank FX for their contribution and wish them all the best for their future as they move forward.”