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Monisha Kaltenborn becomes Sauber stakeholder - Peter begins to transfer the business of running an F1 team

Published by Christine

Monisha Kaltenborn becomes Sauber stakeholder
Credit: Sauber Motorsport AG
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This is F1Minute - Monisha Kaltenborn becomes Sauber stakeholder.

Team boss, owner and director Peter Sauber has confirmed that he will be transferring a third of the Sauber Group stake to CEO Monisha Kaltenborn, as a reward for her good work, and to aid continuity in the future. Sauber himself will retain two thirds, and insists that this move should be a benefit for the employees.

He said: “When BMW pulled out of F1 in 2009, Monisha was instrumental in the team’s survival and since then she has been doing outstanding work in her capacity as CEO... My desire is to ensure that the company continues to be led as I would want over the long term... It means we can offer our employees a positive outlook for the future.”

Monisha simply adds: “For me this step is a mark of the greatest possible trust, which I will do everything in my power to justify.”

Meanwhile, both drivers are looking forward to the next Grand Prix, after a mixed weekend in Spain. Kobayashi finished fifth and hopes to repeat the feat, saying: “The last time I came fifth was last year in Monaco, and I am very much looking forward to returning to the principality.”