Formula One update - Adam Parr named new Chairman for Williams F1 team
Adam Parr, the new chairman of Williams F1 team, says that he will do all he can to protect the legacy of Williams in Formula one.
Parr had been acting as the team chairman for a while, but now he has formally been announced as the Chairman of the team.
Sri Frank Williams who is the founder of the Williams team will still hold the authority to have the final word as far as team decisions are concerned, but Parr will look after all the activities in the team as far as day to day operations and race preparations are concerned.
Parr said that he is looking forward to the challenges in front of him and he knows the amount of responsibility he has taken on, but he believes that he has what it takes to get the job done.
Parr added that in the past 4 years that he has spent at Williams he has learnt everyday about the culture and legacy of the team, he knows how important values are to the team and he will do all he can to preserve them. Parr went on to say that during his time with the team Frank had trusted him with great responsibilities and step by step he has been getting to know the inns and outs of the team. He said that Frank made sure he got to learn everything gradually so that he was never over burdened.
Still he said that what lies ahead of him is a monumental task, but he said that instead of worrying about it he is relishing the prospects of building the team further.
Parr said that he thrives on the chance of being handed great responsibility, and is sure that with his experience with the team he will be able to take the team to great heights in future. Parr said that nothing happens with a bang and what the team has right now is a long term plan so the expectations should be realistic and enough time should be given for the plans to take shape instead of jumping to conclusions from short term results.
Williams is not the first big name that Parr has been associated with, he joined the team in 2006 before that he was with one of the biggest mining companies in the world, Barclays Investment Bank and Rio Tinto.
Sri Frank’s long time associate Patrick Head will continue to be part of Williams working as the director of engineering; he will be in charge of the technical aspects of the company. Sri Frank though will continue to lead the team as the team Principal.
Parr said that one of the most important things to consider when running a business is to understand the culture of the company and making sure you know how it is handed over from one generation to the other.
Parr said he sees this as a long term in fact a very long term thing. Everyone knows that Frank and Patrick have been running the team for past 3 decades and he will like to at least lead the team for 20 years or so, even though he said he is much older then what Frank and Patrick were when they started.
Parr said that even though cost cutting is the most important thing in today’s financial scenario, but keeping the revenue balanced is also necessary.
He added that businesses are recovering from massive recession and for now it is not that easy to lure sponsors in, but that is where his ability comes in and Parr said he is confident that he will be able to bring in big sponsors to the team soon.
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