Kaltenborn gets one-third stake in Sauber F1
By Berthold Bouman
In an unusual move Sauber’s Monisha Kaltenborn has been given a one-third stake in the Swiss-based Formula One team. Team owner Peter Sauber made the decision in ‘the interest of continuity’, but Sauber himself will remain Team Principal and President of the Board of Directors of all Sauber group companies, and he will retain the remaining two-thirds in the company, a Sauber statement today read.
“When BMW pulled out of Formula One in 2009, Monisha Kaltenborn was instrumental in the team’s survival and since then she has been doing outstanding work in her capacity as CEO,” said Sauber.
And Sauber further declared, “Transferring one third of the stake to her represents an important step for me in providing continuity. My desire 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.”
The one-third stake is in fact a reward for Kaltenborn’s hard work over the years, and she commented, “For me this step is a mark of the greatest possible trust, which I will do everything in my power to justify.”