Friday, 30 June 2017

Ron Dennis ends 37-year association with McLaren by selling shares

Ron Dennis has formally ended his role at McLaren, the company he made into one of the most successful Formula 1 teams of all time.

Dennis, ousted as chief executive officer last November in a boardroom coup, has sold his 25% shareholding.

The 70-year-old has also resigned from his position on the board.
Dennis has sold to the two main shareholders - Mumtalakat, the Bahrain sovereign investment fund, and Mansour Ojjeh.

It was the souring of Dennis' relationship with Ojjeh that led to his removal.

The two were long-time friends and business partners but fell out for both personal and business reasons a few years ago.

BBC    News.

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