Peter Sauber Releases 1/3 Stake In F1 Team

Photo courtesy Sauber F1 Team

Photo courtesy Sauber F1 Team

Nothing lasts forever; that's an axiom Peter Sauber, team principal and president of the board of directors of Sauber Group companies has realized.

To that effect, Sauber has taken the step to transfer a third of the stake in the Sauber Group to CEO Monisha Kaltenborn, thereby effecting continuity within the companies. Sauber will retain the remaining two-thirds interest in Sauber Group.

"When BMW pulled out of Formula One in 2009, Monisha Kaltenborn was instrumental in the team's survival," Sauber said. "Since then she has been doing outstanding work in her capacity as CEO. Transferring one-third of the stake to her represents an important step for me in providing continuity.

"My desire," Sauber affirmed, "is to ensure that the company continues to be led as I would want over the long term. Monisha Kaltenborn and my son Alex, who joined the company as marketing director in 2010 - and has since also been a member of the board of management - both embrace this aim. It means we can offer our employees a positive outlook for the future."

Photo courtesy Sauber F1 Team

Photo courtesy Sauber F1 Team

Kaltenborn added, "For me this step is a mark of the greatest possible trust, which I will do everything in my power to justify."

Sauber F1 Team/Ferrari's two drivers, Sergio Perez and Kamui Kobayashi hold 10th and 11th place standings, respectively, in the Formula One driver's championship; the team lies seventh in the constructor's title race.

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