MARCH 2, 2012
Sir Frank steps down from Williams board
Sir Frank Williams, who will be 70 next month, has stepped down from the Board of Williams Grand Prix Holdings PLC.
The announcement comes as daughter Claire joins the Board as director of marketing and communications, replacing Dominic Reilly, who leaves the team after eight years to set up a new venture.
"This is an opportune moment for me to consider my own role in the team," Frank Williams said. "I have decided to signal the next stage in the gradual but inevitable process of handing over the reins to the next generation by stepping down from the Board at the end of this month.
"This is not as dramatic a move as it may appear: I shall continue to work full-time as team principal and I shall continue to attend all Board meetings as observer. I also remain the majority shareholder of Williams Grand Prix Holdings PLC. Nonetheless, I shall be looking to Claire to represent the Williams family on the Board and I know that she will work tirelessly alongside Adam (Parr, the Chairman) to make the Group and the team just as successful as we can be.
"I am proud to say that Claire has fought hard to earn this appointment and of all the battles she has had to fight, the prejudices of her father were not the least challenging. Dominic Reilly has proven a unique talent in the field of sports marketing and filling the gap he leaves was daunting. But I have come to the view that Claire, with her profound love and knowledge of the sport and the team, can do so and I am proud and delighted that the Board has given her this opportunity.
"I am equally delighted that Dominic will remain close to the team with his new venture and that we can thank him for his contribution to Williams by supporting him now."