Williams F1 Exec Moves to Daimler

Daimler AG has hired Toto Wolff as head of its motorsport activities and executive director of Formula One team Mercedes-Benz Grand Prix (MGP). Wolff had been executive director for F1 at competitor Williams Grand Prix.

Wolff succeeds Norbert Haug, who retired in December after heading Mercedes motorsports for 22 years.

Wolff will buy a 30% stake in MGP for an undisclosed sum, according to Daimler. The company says he will resign from the Williams board but retain his 15.5% stake in that team.

Daimler, which acquired its F1 team in late 2009, owns 60% of MGP. Past F1 champion Niki Lauda, who became the team's non-executive chairman in September, will buy the remaining 10%, the company says.

The automaker has been shaking up the team's leadership after three nearly winless years. The company signed F1 champion Lewis Hamilton from McLaren last autumn to drive for MGP next season.