McLaren has merged their ‘Automotive’ and ‘Technology Group’ entities together to become the McLaren Group on the same day long-time CEO and co-founder of the current Formula 1 team Ron Dennis ended his association with the company.
The Woking-based organisation has expanded its business well beyond motorsport in recent years with the rapidly growing Automotive arm has seen the McLaren name return to GT racing and produce high-performance road vehicles such as the P1. Now it will come under the broader company umbrella that has developed products for all sort of industries from drugs to solar panels and more.
“Since I became a major investor in the business 33 years ago, I am exceptionally proud of what each of our extraordinary McLaren businesses have achieved, growing independently and entrepreneurially.” Executive Committee Principal Mansour Ojjeh said in a statement.
“Now, as they have reached world-class scale and success, it is the right next step to unify the strategies and brands to create a stronger centre of Luxury Automotive, Racing and Technological excellence.
“In a matter of just seven short years, McLaren Automotive has established itself as one of the world’s leading creators of luxury sports and supercars. Its products are now routinely hailed as best-in-class.
“Mike Flewitt and his team have done, and are continuing to do a brilliant job, and the company’s recent announcement of a fourth consecutive year of profitability indicates a robust future. The new McLaren 720S, the first car to be launched under its Track22 business plan, is already sold out well into 2018 and there will be a lot more exciting cars where that came from.
“McLaren Applied Technologies continues to go from strength to strength. Partnering with companies that share our visionary determination to innovate, it is becoming profitable as well as pioneering ground-breaking technologies. And its scope for development is exciting. This is an area of our business in which we intend to invest, with a view to achieving consistent growth.”
It is just another in a number of significant changes made to the McLaren brand in the last six months, following the ousting of Ron Dennis as CEO late last year after a proposed full takeover of the company by the Briton was rejected.
Dennis has now sold his shares back to the McLaren Group, completing his exit from the company he merged his former Project 4 Racing team with, in 1980. In that time he secured 11 Drivers’ Championships with some of greatest name in the sport’s history from Niki Lauda to Alain Prost, Ayrton Senna and Mika Hakkinen to the last title coming with Lewis Hamilton in 2008.
Though it was not the end that befitted the achievements Dennis has achieved with McLaren, upon the announcement of selling his shares, he was only thankful for what he had been able to accomplish.
“I am very pleased to have reached an agreement with my fellow McLaren shareholders. It represents a fitting end to my time at McLaren and will enable me to focus on my other interests,” Ron said.
“I have always said that my 37 years at Woking should be considered as a chapter in the McLaren book, and I wish McLaren every success as it takes the story forward.
“Perhaps my greatest satisfaction is the Formula 1 team’s outstanding racing safety record, which is a tribute to the dedication and efforts of hundreds if not thousands of talented and conscientious employees whom I have had the privilege of leading.
“I wish McLaren well, and I send my greatest thanks and best wishes to my colleagues in all corners of its business, and at every level of seniority. Truly, they are the best of the best.
“And, well funded to succeed and grow, and led by an ambitious management team, McLaren is ideally poised to build on the successes that I am so proud to have contributed to during my time leading such a great British group of companies.”
Have we seen the last of Dennis in F1? Potentially the answer is no, as, though this link is speculative, the 70-year-old was believed to be working with a Chinese consortium when planning his buyout of McLaren. Now, there is a Chinese consortium looking to enter the sport potentially from 2019, are they the same people?
Giving his own view on what comes next, however, Dennis added: “Now that my time at McLaren has come to an end, I will be able to involve myself in a series of other programmes and activities, especially those focused on public service.”
