Audi Moves Tech Chief to Racing Division as it Doubles Down on Formula 1 — Update

By David Sachs

The head of Audi's 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 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, it said Friday.

"Besides shortening development times, the focus is mainly on more efficient structures and clear areas of responsibility in order to operationalize the prioritization of products and technologies as prescribed by the Audi Agenda," it said.

Hoffmann will step down from the board of management and chair the board of directors of Sauber Group, of which the Audi and Volkswagen Group boards voted to take full ownership, Audi said. Audi took a 25% stake of Sauber last year as part of its planned 2026 entrance into Formula 1. The German carmaker has reached an agreement with majority shareholder Islero Investments, it said.

Audi named Andreas Seidl 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 10:17 ET (15:17 GMT)

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