MARCH 19, 2004

Dennis has a new contract at McLaren

McLaren boss Ron Dennis wanted to stop speculation about his position at McLaren and in Malaysia told the international media that he has recently signed a new contract with the team.

"I've recently signed a new contract with the company," Dennis said. "All executives like to have the protection of a contract of employment, you have to have one in reality, and I've recently signed a new one. I'm passionate about the McLaren brand. I've spent a lot of time trying to put the company in a position to power through the inevitable ups and downs of Grand Prix racing and as it comes closer to fruition, I have no intention of walking away from it. What I am trying to do is not just delegate but actually give people the authority when you delegate. That's important. You might not always like the result but you have to build a team. My comments that were made about trying to generate depth of management were interpreted as me having a clear intention to retire, which I certainly don't. I do have an intention, because I have no desire to work for the rest of my life, but I have no immediate plans. And I certainly won't retire losing."

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