Wolff and Lauda sign new four-year contracts with Mercedes

Mercedes boss Toto Wolff and non-executive chairman Niki Lauda have signed new contracts until the end of 2020, the reigning Formula One constructors' champions have announced.

Wolff, who owns a 30 per cent stake in Mercedes-Benz Grand Prix Ltd and is responsible for the day-to-day operations of the team, joined from Williams in February 2013 and has overseen three successive world title triumphs – Lewis Hamilton securing glory in 2014 and 2015 prior to Nico Rosberg's success last year.

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He is now set to continue in his role for a further four seasons, while Lauda – a three-time F1 world champion – has also agreed a new deal to remain in his position, which sees him retain a 10 per cent stake in the team.

Dr Dieter Zetsche, chairman and CEO of Daimler, who own the remaining 60 per cent of the Mercedes team, said: "It's great news that Toto and Niki have extended their agreements.

"In 2013, we restructured the management of the team with the clear goal of improving our performance. Since then, however, the results have exceeded our expectations.

"A key factor in this success has been the combination of Toto's entrepreneurial skills and Niki's experience. Their renewed commitment gives our programme important continuity for the next four years."

Wolff, who led the process to sign Valtteri Bottas as Hamilton's new team-mate following Rosberg's shock retirement at the end of 2016, added: "Winning is never down to single individuals – it is about the right group of people coming together, aligning themselves with a common objective and then combining their talents to achieve that target.

"Each day I come to the factory, I am humbled to have the privilege of representing this inspiring group of people."

Lauda also expressed delight at his new deal, stating: "The last few years have been some of the most enjoyable I have had in Formula One. Toto and I formed a perfect partnership at Mercedes and we have a great team on every level that has delivered results.

"I must thank Dieter and the other members of the board of Daimler AG for renewing their confidence in us." 

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