Patrix Plans to Stand Down as Director of Williams

Click to follow


Williams co-founder Patrick Head is selling his shares in the Formula One team. His plans to stand down as director of engineering in the near future.

The 65-year-old Briton set up the championship-winning team with Frank Williams in 1977 and designed a series of world-beating cars, told Reuters on Tuesday that he has no immediate plans to retire completely.
"I am pretty sure that I will stand down as Director of Engineering at some point in the near future," said the Briton when asked about reports of his retirement at the end of the season.

"That will take me out of a day-to-day role within the team. But I plan to remain a director and I will continue to be involved with the company, for example as a director of Williams Hybrid Power."

"Even after the listing I will be a significant shareholder, around five percent, and I plan to retain that until I do retire."


Williams, the second most successful Formula One in terms of constructors' championships with nine between 1980 and 1997, are planning an Initial Public Offering (IPO) on Frankfurt's Entry Standard with the first day of trading on March 2.