Advertisement

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."

Advertisement - Article continues below

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...

Advertisement
Advertisement

Recommended

McLaren cuts a quarter of its workforce
McLaren 650S Spider static
McLaren

McLaren cuts a quarter of its workforce

Supercar maker announces 1,200 redundancies in light of motorsport cancellations and wider coronavirus impact
26 May 2020
New 804bhp £1.4 million McLaren Elva shows off retro livery
McLaren

New 804bhp £1.4 million McLaren Elva shows off retro livery

The new McLaren Elva has been shown off in a retro-inspired livery, while the novel wind deflector system has been explained in a Facebook video
26 Mar 2020
New 2020 McLaren 765LT revealed as latest Longtail model
McLaren 765LT

New 2020 McLaren 765LT revealed as latest Longtail model

The Super Series McLaren 765LT has arrived with its 4.0-litre twin-turbo V8 engine producing 755bhp
4 Mar 2020
New Sports Series McLaren supercar spied testing
McLaren sports series spy - front
McLaren

New Sports Series McLaren supercar spied testing

McLaren will replace its entry-level Sport Series range later this year with hybrid power
7 Feb 2020

Most Popular

New Skoda Octavia vRS line-up completed as petrol and diesel models arrive
Skoda Octavia vRS Hatchback

New Skoda Octavia vRS line-up completed as petrol and diesel models arrive

Skoda has unwrapped the complete Octavia line-up, which now offers a choice of petrol, diesel or plug-in hybrid powertrains
3 Jul 2020
New 2020 Ford Puma ST teased for the first time
Ford Puma

New 2020 Ford Puma ST teased for the first time

The sporty new Ford Puma ST will make its debut later this year, with the same 197bhp 1.5-litre three-cylinder engine as the Fiesta ST
3 Jul 2020
New Vauxhall Corsa-e 2020 review
Vauxhall Corsa-e hatchback

New Vauxhall Corsa-e 2020 review

The all-electric Vauxhall Corsa-e boasts up to 134bhp and a 209-mile range, but rivals offer better value for money
3 Jul 2020