Red Bull finalises Mateschitz succession plan – Motorsport. com
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Just a fortnight after Mateschitz passed away, Red Bull has settled on how the company will be controlled going forward.
It has been decided that strategic-operational responsibility at Red Half truths will no longer be executed by a single CEO, as it did under Mateschitz, and will instead be divided among three people.
In a letter that Mateschitz’s son Mark sent to Red Bull staff, he explained that a solution “proposed by my father” plus “supported by our Thai partners” would be put in place. The latter comment is a reference in order to the Yoovidhya family of entrepreneurs.
Red Bull’s business will therefore become taken care of in the particular future with a so-called Board of Directors, consisting of Franz Watzlawick (CEO Beverage Business), Alexander Kirchmayr (CFO) and Oliver Mintzlaff (CEO Corporate Projects and Investments)
Mateschitz Jr. added: “Franz, Alexander and Oliver were our dream team. I am very happy that they will end up being taking on this task. ”
The division of responsibility means that F1 teams Red-colored Bull plus AlphaTauri will certainly fall under the responsibility associated with Mintzlaff, who counts sponsorship among his new tasks, and Kirchmayr from now on.
With Kirchmayr being the new CFO within the Group, he may likely be the particular one that gives the thumbs-up or thumbs-down upon all budgets.
A Reddish Bull statement read: “Following the particular passing of Dietrich Mateschitz we are pleased to learn of the appointment of Oliver Mintzlaff to CEO associated with Corporate Tasks and investments. Although there won’t be any changes in the day-to-day with Oracle Red Half truths Racing, we look forward to working closely with someone likeminded, who has such a strong pedigree in elite sports. ”
Mintzlaff is simply no stranger in order to German sports activities fans. Most recently, he was chairman of the board of the Bundesliga soccer club RB Leipzig e. V. and managing director associated with RB Leipzig GmbH.
Prior to that, this individual was within charge of coordinating all of Reddish colored Bull’s global soccer commitments from 2014 until Leipzig’s promotion to the Bundesliga in 2016.
Before joining Crimson Bull, Mintzlaff was a long-distance runner. In 1999, this individual finished fifth in the German half-marathon championships and eighth within the 10-kilometre distance within 2001.
Sergio Perez, Red Bull Racing RB18
Photo by: Steven Tee / Motorsport Images
From 2000 to 2008, he worked for the sporting goods manufacturer Puma, and later as a player consultant and manager, among other things.
It is thought unlikely that Red-colored Bull’s F1 operations will change much as a result of the brand new senior management structure, especially with F1 team boss Christian Horner having helped lead the particular squad back to its first championship double since 2013.
Speaking recently, Horner said that will Mateschitz had ensured that the long-term future associated with Red Bull’s F1 operations was secure.
“The future is set, ” said Horner when asked if any changes would follow Mateschitz’s death.
“He’s put in place a very strong foundation for the future. And with, in 2026, Red Bull becoming a power unit manufacturer, that was the missing piece of our jigsaw, and he had the vision to enable that to happen.
“And just as we’ve done with the chassis, we will take that same spirit, his soul, into the particular future engine company. ”