Jost Capito: After two years in charge, Williams' chief executive will resign.

Jost Capito: After two years in charge, Williams' chief executive will resign.

Most recent revision was made on December 12, 20221 December 2022. coming from the Formula 1 section.

Jost Capito, Williams' chief executive officer and team principal, will leave the company after two years in charge.

In December 2020, months after it had been acquired by investment firm Dorilton Capital, the former auto industry executive, 64, joined the group.

Francois-Xavier Demaison, a Frenchman hired by Capito as Williams' technical director in early 2021, is also resigning from his position.

Williams failed to offer a justification for Capito's abrupt departure.

"We would like to thank Jost for his hard work and dedication as we embarked on a major transformation process to begin the journey of reviving Williams Racing," Dorilton Capital chairman Matthew Savage said in a statement.

We appreciate Jost delaying his planned retirement to take on this challenge, and he will now hand the reins over to the next person for the next stage of this staged process. ".

In the same statement, Capito said: "Running Williams Racing for the past two seasons and laying the groundwork for this great team's turnaround has been a tremendous honor. ".

In the summer of 2020, Dorilton acquired Williams from the heirs of the team's late founder, Sir Frank Williams, with the intention of revitalizing them after a run of poor form.

After the 2020 season, in which the team finished last in the championship for the third straight year, it hired Capito from the Volkswagen Group.

The team improved in 2021, coming in eighth place—their highest placing since 2017.

That was made possible in large part by George Russell's breathtaking display at the Belgian Grand Prix, where he qualified the Williams team's car second in drizzly conditions. When the race was called off due to bad weather before any racing laps could be completed, he was classified in the same position.

Along with their four other point finishes in 2021, Russell and Nicholas Latifi finished the season with 23 points, ahead of Alfa Romeo and Haas.

Williams was unable to maintain this momentum into 2022, when F1 implemented a significant set of rule changes intended to tighten the racing and bring the field closer together.

Although Thai Alex Albon, a British citizen, performed admirably in place of Russell, Williams' car was the slowest in the field, and with only eight points, they fell to last place once more.

The Williams was slower than the next slowest car on average by more than 0.3 seconds per lap during the 2022 season based solely on qualifying pace.

According to a source close to the team, Dorilton decided in the summer not to extend Capito's contract and to search for a new team president.

To lead their design team, the organization must now find a new technical director.

Logan Sargent, an American, has joined Albon on the team for 2023 after he signed a new two-year contract for 2023 and 2024.

Albon's career was revived by Capito when he decided to give him a seat at Williams after Red Bull had downgraded him to a reserve driver after two seasons with their teams.

Following the news of his former boss's departure, Albon paid tribute to Capito, writing on Twitter: "We only worked together for one year, but during that time, you were not only a team principal but also a great friend. Jost, I appreciate all of your support and your belief in me this year.

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