DGAP-News: Williams Grand Prix Holdings PLC

06/09/2017
Williams Grand Prix Holdings Board Announcement

Williams Grand Prix Holdings PLC (Ticker: WGF1) today announces that after six years, Eddie Charlton is stepping down from his position as the Senior Independent Non-Executive Director on the company's Board of Directors.

As announced in July, Doug Lafferty has joined Williams this week in the position of Chief Financial Officer, and will now take up his position on the company's Board of Directors.

Doug joins Mike O'Driscoll, Claire Williams, Mark Biddle and Paddy Lowe on the Board, alongside the company's Non-Executive Chairman Nick Rose and Non-Executive Director Brad Hollinger.

Eddie joined the Williams Board in 2011, after a very successful career in banking with Hambros Bank, Banque Paribas, and HSBC, having served on the Board of a number of companies. Eddie chaired the Remuneration and Nomination Committee, and retires from the Board on completion of his second three-year term, which is normal practice for a Non-Executive Director, and in line with the UK Corporate Governance Code.

Doug has joined Williams from British American Tobacco, where he was Head of Finance for the Americas region. Doug joined BAT in 2001 and has held positions of increasing responsibility during a very successful career with the company. After a number of international assignments, Doug returned to the UK in 2013, as Finance Director for BAT's Next Generation Products business, where he played a key role in the development of the group's strategy.

Nick Rose, Non-Executive Chairman, Williams, commented; "I would like to thank Eddie for his invaluable contribution to Williams over the last six years. Eddie will remain a great friend of the team. I am delighted to welcome Doug to our Board. His appointment adds to what is a very strong team of Board members who provide the company and our shareholders with the highest standards of leadership and governance."

Mike O'Driscoll, Group Chief Executive Officer, added; "On behalf of all of us at Williams, our huge thanks to Eddie for his service over the last six years. I know his passion and enthusiasm will be missed by all at the team. I would also like to welcome Doug, who has taken up the position of CFO at Williams this week. Doug is a highly respected financial professional, and I look forward to working alongside him."

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NOTES TO EDITORS

Williams Grand Prix Holdings PLC

Williams Grand Prix Holdings PLC is the holding company of the Williams group of companies ("Group") which includes Williams Grand Prix Engineering Limited.

Williams is a leading Formula One team and advanced engineering company. Formed in 1977 by Sir Frank Williams and Sir Patrick Head, the company has secured 16 FIA Formula One World Championship titles since its foundation. The company's core competencies are the design and manufacture of Formula One race cars, and the deployment of this expertise in running the team's entries into the Grands Prix each season under the name WILLIAMS MARTINI RACING.

In 2010, Williams Grand Prix Engineering Limited began diversifying its operations, leading to the establishment of the Williams Advanced Engineering division, which has now become Williams Advanced Engineering Limited. Combining cutting edge technology and the industry's best engineers with precision and speed to market derived from four decades of success in the ultra-competitive environment of Formula One, Williams Advanced Engineering provides world class technical innovation, engineering, testing, manufacturing and operational consultancy services to the automotive, motorsport, defence, health and energy sectors. Working in close collaboration with its customers, Williams Advanced Engineering helps meet the sustainability challenges of the 21st century and improve performance, with its expertise in aerodynamics and thermodynamics, electrification, advanced lightweight materials and vehicle integration.

Williams Heritage is a division of the Williams Group, established in 2014, which focuses on preserving Williams' historic assets and showcasing these to fans across the globe. This includes curating the Williams Grand Prix Collection, the largest private collection of Formula One cars in the world, public demonstration of Williams' classic racing cars, and the sale of select racing cars to private individuals. /