In 2013, Toto Wolff joined Mercedes. That was the year when Lewis Hamilton joined the team, too. And as people like to call it, “The rest is history.” Previously, the German outfit did not look like a winning team. Who knew they would dominate the sport for the next eight years? Moreover, the great British racer was at first reluctant to join the team, leaving McLaren. It was the late great Niki Lauda who convinced Hamilton to join the Silver Arrows. But the addition of Wolff and Hamilton in the German outfit made a massive difference. In 2014, the regulations changed, and the turbo-hybrid engines came into play.
That was when the Wolff-Hamilton duo started dominating the sport. And it went on and on for eight straight years. Lewis Hamilton broke so many records and became the most decorated F1 racer ever. On the other hand, Toto Wolff became one of the most successful bosses in F1 of all time. But he is not just a team principal. Wolff is also a part owner of the Mercedes F1 team. Hence, Lewis Hamilton can leave the team whenever he likes. But it is not that simple for the Austrian billionaire executive. Hence, it is interesting to see where Wolff’s future lies in the sport.
Toto Wolff Thinking Of His Future At Mercedes
Recently, in an interview with the PA News Agency, Toto Wolff said he has always been introspective and very self-critical. Moreover, the Mercedes boss mentioned that he always asks himself the same questions. Is he really good at what he is doing at present, or can he understand and contribute to what he is working on? These are the questions that he always asks himself. It has been going on for 30 years. Moreover, Wolff said that it has been his decision that he is a co-owner of this business. Also, it is his decision that he will stay a co-owner of this business. He can stay as the team principal or be the CEO or chairman.
Moreover, Toto Wolff shared that he has had those moments when he thought there is someone else who can do his job better. Perhaps they have extra energy or are more intelligent and knowledgeable and may have even more compassion. Anyway, Wolff says he and the other owners have not yet decided on who’s the next person will be. Nonetheless, it is clear that Mercedes is not going to have a new team principal in the next three years. After all, Toto Wolff recently signed a new contract with this team.
The Austrian Billionaire Executive Signed A Three-Year Contract Extension
Toto Wolff’s co-owners are Mercedes-Benz AG and Ineos. These co-owners are not ready to have a new team principal for the F1 team. Moreover, Toto Wolff says, “I still love it. Maybe someday, I would wake up and feel like not worth it.” Someday, Wolff might not love the job as a team principal anymore. Moreover, the Mercedes boss used the phrase of a “Stone falling on my head” to say that suddenly he might not be a team principal.
However, he said that it is the destiny that he chose with his co-shareholders. Finally, Toto claims that he penned a new contract of three years. Adding to that, he said, “I’m going to be permanent unless I die.” But there might be various roles at Mercedes in the top of the management. In fact, it was early in 2024, that Toto Wolff signed this new contract to stay in charge.
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