McLaren 'supremo' Dennis demoted UPDATE (GMM) McLaren on Friday played down reports Ron Dennis has been demoted by team co-owner Bahrain.
Germany's Auto Motor und Sport had reported the McLaren 'supremo' was stripped of his voting rights, and is now only a non-executive member of the board.
The report said McLaren shareholder Mumtalakat Holding, the Bahraini investment company, is angry because Dennis' pet project, McLaren Automotive, is losing millions.
But a McLaren spokesperson on Friday told the BBC that Dennis' change of role was decided by himself.
The spokesman did, however, admit that group chairman Dennis is now a non-executive board member.
Dennis is quoted as saying: "The difference in the job is I don't have accountability for the actions of the management."
He denied rumors of significant disagreements with the Bahrainis and also shareholder Mansour Ojjeh, or that he had attempted to wrest back control of the F1 team from Martin Whitmarsh.
"There has absolutely been no suggestion of my role in the company changing beyond the change of roles that took place as per my contract in January," said Dennis.04/26/13
(GMM) According to a specialist publication, Ron Dennis has been demoted at McLaren.
|Ron Dennis, who ruined Michael Andretti's F1 career, is getting his due now|
Although still referred to as the famous British team's 'supremo', the 65-year-old - succeeded by Martin Whitmarsh - stepped down as McLaren team principal some years ago.
He also sold half of his 30 per cent stake in the Woking based company to the Bahrain investment vehicle Mumtalakat Holding, and most recently has been focused on McLaren's road car production subsidiary.
And according to Auto Motor und Sport, it is the road car business, and the extent of Bahrain's new influence at McLaren, that has resulted in Dennis' latest demotion.
The German magazine reports that Dennis has lost his voting rights on the McLaren Group board, leaving him only a non-executive member due to his status as co-owner.
Auto Motor und Sport said Bahrain is angry because Dennis' pet project, McLaren Automotive, is losing rather than making money.
"Instead of the planned 3,500 units, only half of that are sold," wrote correspondents Michael Schmidt and Bianca Leppert.
"The Bahrainis are seeing their money disappear, never to return," they added, estimating Bahrain's losses in the hundreds of millions.