P1racenews AI automatic summary:
This is a major move inside the Mercedes F1 team.
Toto Wolff has reduced his shared ownership of the Mercedes Formula 1 team by transferring part of his stake to George Kurtz, CEO of CrowdStrike.
This move marks a significant shift for Wolff who previously held a one-third ownership in the team alongside Mercedes-Benz and INEOS.
Kurtz, a well-respected business leader in AI cybersecurity, now holds a five per cent stake in the team and has taken on the role of technology advisor.
Mercedes confirmed that despite the ownership change, the team’s governance structure remains unchanged, with Wolff retaining his executive positions.
Kurtz’s appointment is aimed at enhancing the team’s innovation and technology strategy, particularly focusing on the intersection of motorsport, data analytics, and performance.
His diverse background in racing and cybersecurity is expected to bring valuable insights as Mercedes aims to stay competitive and innovative in the ever-evolving world of Formula 1.
