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Sauber change ownership
The struggling Sauber Formula One team announced a long-awaited change of ownership on Wednesday, with founder Peter Sauber retiring and handing over control to the Swiss investment firm Longbow Finance. The Swiss team, based in Hinwil, said its name would stay the same and Monisha Kaltenborn will remain as principal and chief executive. Longbow president Pascal Picci will replace Sauber, 72, as chairman of Sauber Holding, the company that controls the team and group. "It is Longbow Finance S.A.'s clear intention to stabilise the group and create the basis for a competitive and successful future," the team said in a statement before this weekend's Hungarian Grand Prix in...
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7y ago from SuperSport.com
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