>


Advertisement
Hot News
for your iPhone
for your iPad
Go to our forums to discuss this news
DATE News (chronologically)
02/23/10
f1
Mercedes Formula One chief Nick Fry quits board  UPDATE A reader writes, Dear AR1.com, So nick Fry has resigned as a board member of the new Mercedes team eh.  Well if you didn't see this coming you weren't looking.

He ran the old Honda team into the ground with some of the dumbest marketing schemes ever in F1.
Then when Brawn came on board and through a giant sized loop hole stole last year’s championship he continues to do everything in his power to destabilize the team and it's drivers.

Even though many believe Button was a gonner well before the end of the season, it was Fry who berated him in public and called him a traitor. Sending the World Champ hurrying into the arms of McLaren.

How long did anyone think the guys from Stuttgart were going to put up with this guy?  So now he has "resigned" as a board member...or was he pushed.  And more to the point, how long will we see him on pit wall?

Reading this quote from the Mercedes spokeswomen I'd say he won't be there at season's end.

"The company's Articles of Association state that only the directors can vote on proposals at board meetings. A Mercedes spokeswoman confirmed that “Nick Fry is an observer but does not have a vote”. She said the day-to-day operation and management of the team was carried out by a committee, which includes Fry, although “certain significant decisions are reserved for the board”. Ray Masters, Hawaii

Nick Fry
02/23/10 Mercedes Formula One team's chief executive, Nick Fry, has resigned from its board.

Company records show that Fry, who had been a director since 2002 and CEO since 2004, quit on 26 January after Mercedes and Abu Dhabi's Aabar investment fund took a majority stake in the team, which was known as Brawn GP last year.

Fry will remain as chief executive of Mercedes-Benz Grand Prix, the company which runs the team, even though he will have no say at board meetings.

Aabar bought a 30 per cent stake in the F1 team in November, with Mercedes taking 45.1 per cent. The remaining 24.9 per cent is split between its former owners including Fry and team principal Ross Brawn, who led a management buy-out from Honda in March last year. zzzz

Last year Brawn won the F1 championship with British driver Jenson Button, and former champion Michael Schumacher has returned to the sport as the team's lead driver.

All of the company's former directors, except for Brawn, resigned on the same day as Fry and were replaced with representatives of Mercedes and Aabar.

Mercedes has come under fire for buying into the team immediately after selling its 40 per cent share in rival McLaren.

“The staff would have understood better if Mercedes had withdrawn from the expensive F1 business altogether,” said Erich Klemm, works council chairman of Mercedes parent Daimler.

“In these economically difficult times, the company should invest in better marketing of its real cars.” More at This is London

Hot News Archives
2000 2001 2002 2003
2004200520062007
2008200920102011
2012201320142015

Search Hot News
Search Help