Ron Dennis steps down as McLaren Technology Group boss

Dennis claims he has been put on "gardening leave" by the majority shareholders, after 35 years of service

Ron Dennis McLaren

Ron Dennis, Chairman and Chief Executive of McLaren Technology Group, has announced he is stepping down from his role as head of the brand. He states that he has been put on "gardening leave" by other majority shareholders, after heading the brand for 35 years.

In his statement, Dennis states that he "remains on the boards of both MTG and McLaren Automotive", and "intends to honour his commitments to the group before launching a new technology investment fund later in 2017."

Dennis goes on to explain where the decision came from: "The grounds [TAG and Mumtalakat] have stated are entirely spurious; my management style is the same as it always has been and is one that has enabled McLaren to become an automotive and technology group that has won 20 Formula One world championships and grown into an £850m a year business.

"Ultimately it has become clear to me that through this process that neither TAG nor Mumtalakat share my vision for McLaren and its true growth potential."

Despite stepping down, he's still a significant shareholder and a director of McLaren Technology Group.

The investment fund Dennis is setting up next year will enable him to "pursue the many commercial opportunities I have been offered in recent years but have been unable to take up while being so committed to the existing business."

What do you think of McLaren's decision? Let us know below...

Recommended

New McLaren Artura teased ahead 2021 launch
McLaren

New McLaren Artura teased ahead 2021 launch

The new McLaren Artura will replace the 570S and will be powered by a twin-turbo petrol-hybrid V6 engine
23 Nov 2020
Gulf-liveried McLaren Elva unveiled for Goodwood SpeedWeek
McLaren

Gulf-liveried McLaren Elva unveiled for Goodwood SpeedWeek

McLaren Elva has just renewed its partnership with Gulf Oil – so to mark the occasion, the brand has painted its most striking car in an iconic livery…
16 Oct 2020
New 2020 McLaren 765LT: price and specs confirmed
McLaren 765LT

New 2020 McLaren 765LT: price and specs confirmed

McLaren 765LT is the latest Super Series flagship has an output of 755bhp and a starting price of £280,000 – but every example has already been sold
24 Sep 2020
McLaren looks to sell Woking HQ for £200 million
News

McLaren looks to sell Woking HQ for £200 million

Iconic Norman Foster designed McLaren base to be sold and leased back to the company as part of cash-raising measures
12 Sep 2020

Most Popular

New Audi A6 50 TFSI e 2020 review
Audi A6

New Audi A6 50 TFSI e 2020 review

The new Audi A6 50 TFSI e brings plug-in hybrid power to the A6 range for the first time
10 Nov 2020
New 2021 Mercedes-Maybach S-Class luxury limo unveiled
Mercedes S-Class

New 2021 Mercedes-Maybach S-Class luxury limo unveiled

The new Mercedes-Maybach S-Class has made its official debut, with lashings of technology and even more imposing styling
19 Nov 2020
How to transfer a number plate from one car to another
MINI number plate change
Tips & advice

How to transfer a number plate from one car to another

Need to know how to transfer a number plate between vehicles? Our step-by-step guide breaks it down
22 Nov 2020