Kaltenborn Departs From Sauber

MONISHA KALTENBORN LEAVES SAUBER F1 TEAM

    Sauber boss Monisha Kaltenborn has parted ways with the team.

    Kaltenborn, who has worked for Sauber since the 1990s, was promoted to team principal in 2012 when Peter Sauber retired. Over the past five years, she has led the team through financial difficulties.

    Swiss finance company, Longbow Finance, brought Sauber last July, securing the team’s future. It’s with this new owner than Kaltenborn is understood to have disagreed with over the future direction of the team.

    The Chairman of the Sauber holding board, Pascal Picci, said the following: “Longbow Finance SA regrets to announce that, by mutual consent and due to diverging views of the future of the company, Monisha Kaltenborn will leave her positions with the Sauber Group effective immediately. We thank her for many years of strong leadership, great passion for the Sauber F1 Team and wish her the very best for the future. Her successor will be announced shortly; in the meantime we wish the team the best of luck in Azerbaijan.”

    Sauber is expected to announce Kaltenborn’s replacement soon.

    The team is currently ninth in the constructors’ championship with four points.

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Article Written By: Bethonie Waring
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New Ownership For Sauber

SAUBER SECURES FUTURE WITH NEW OWNERSHIP

    Swiss company Longbow Finance has taken ownership of the Sauber group in a move that they hope will secure the team’s future in Formula One.

    President of the board of directors, Peter Sauber will retire from all functions, and is succeeded as by Pascal Picci, the president and CEO of Longbow Finance.

    “As a Swiss company, we are pleased with having secured the future of a Swiss presence in a highly specialised and innovative industry,” Picci said.

    Sauber have been struggling with money problems for years, and the results have reflected that struggle. The team is yet to score a point this season, and finished eighth last year.

    Longbow Finance plan to not only keep the team afloat, but to “create the basis for a competitive and successful future” of the team.

    There will be a change behind the scenes to try and bring in the results, though both the name and team principal, Monisha Kaltenborn, will remain the same.

    Kaltenborn is optimistic about the deal.

    “We are convinced that Longbow Finance S.A is the perfect partner to again make the team competitive and successful in Formula One,” she said. “At the same time, the new structure will allow us to finally further expand our third party business in which we commercialise our know-how.”

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Article Written By: Bethonie Waring
No copyright infringement intended
Follow us on Twitter @Bethonie_Boost & @F1Insider78