Audi to Replace Chief Tech Officer, Take Full Ownership of Sauber Group
By David Sachs
Audi's head of the technical development division will move to the company's Formula 1 division as the Volkswagen-owned carmaker aims to take full ownership of motorsport company Sauber Group.
Audi said Friday that Chief Executive Officer Gernot Doellner will replace Oliver Hoffmann as head of technology development, the division responsible for the electrification and digitization of Audi vehicles. Hoffmann will become chairman of the board of directors of Sauber Group, of which the Audi and Volkswagen Group boards voted to take full ownership, Audi said.
Andreas Seidl was named chief executive of the Audi F1 team, the German carmaker said.
"Audi plans to take a 100 percent stake in the Sauber Group," the company said. "Oliver Hoffmann is set to be the person responsible for the Audi Formula 1 program overall as a general representative. As CEO of the Audi F1 Team, Andreas Seidl will be responsible for the implementation of the F1 project as well as the management of the Audi F1 Team."
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
March 08, 2024 09:40 ET (14:40 GMT)
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