10:04 – Ron Dennis has reached agreement with his fellow shareholders at the McLaren Technology Group and McLaren Automotive to sell his shareholding in both companies.
Dennis held a leading position at McLaren for 35 years but was pushed out towards the end of 2016, with Zak Brown arriving as the team’s new Executive Chairman.
On Friday, it was announced that Dennis has agreed to sell his shares to the McLaren Group – the new holding company of McLaren Technology Group and McLaren Automotive.
Bahrain Mumtalakat Holding Company and TAG Group will remain as majority McLaren Group shareholders, with Shaikh Mohammed bin Essa Al Khalifa becoming McLaren Group’s Executive Chairman.