Toto Wolff Sells His Remaining Shares In Williams Grand Prix Holdings
Toto Wolff has announced today that he has sold his remaining 5% stake in Williams Grand Prix Holdings to US healthcare executive Brad Hollinger who already has a 10% stake in the business. Hollinger and Wolff had a pre-existing option to buy which he has now taken up.
Wolff said “I am surprised how emotional I am about this day, to be cutting my final business ties to Sir Frank and to the team at Williams.
“Having entered the team from a pure investment perspective, I soon found myself in a much more active role, helping to restructure this great independent Formula 1 team.
“I am proud to have joined the sport with a team of true passionate racers, where we had to make spot-on decisions for the future of the business and its employees.
“I learned some lessons the hard way, but they were all valuable for understanding the industry.
“I will always remember this period with thanks for the lessons I learned from Sir Frank and his team.
“It was a great privilege to be part of the Williams story.
“The plan to sell my stake was a long-term one agreed with Daimler in 2013, but it was always important to find the right investor, who was doing it for the right reasons.”
The shareholding is now:
Sir Frank Williams: 52%
Brad Hollinger: 15%
Sir Patrick Head: 9%
Floated on the Frankfurt Stock Exchange: 20%