Ron Dennis has been confirmed as Chief Executive Officer of the McLaren Group, with immediate effect. Dennis has been a shareholder at McLaren since 1980, as well as team principal of the racing team and Chairman of the Group. He relinquished the team principal role to Martin Whitmarsh in 2009, taking a step back from the day to day running of the team.

The CEO position had been another of Whitmarsh's roles, and it is unclear exactly where Martin fits in to the reshuffle. There has been no word on whether his team principal position is safe, or if he is likely to be replaced in that role as well.

Meanwhile, Ron Dennis has said: "My fellow shareholders have mandated me to write an exciting new chapter in the story of McLaren, beginning by improving our on-track and off-track performance. Over the coming weeks I intend to undertake a thorough and objective review of each of our businesses with the intention of optimising every aspect of our existing operations."

Sources from McLaren shared two quotes from Dennis from a speech he gave at the factory, including: "There will be changes," and "We will win again."