Caterham Group, the parent company of Caterham Cars, Caterham F1 Team, Caterham Composites and CTI (Caterham Technology & Innovation) has today confirmed that Graham Macdonald, previously CFO of Caterham Cars will step up to the role of CEO after current Chief Executive Officer Ansar Ali leaves the business by mutual consent.
News which arose this weekend that McLaren had been given a seat on the board of the sport’s holding company alongside Ferrari and Red Bull, came amidst pre-float preparations as Formula One gets ready for a listing on the Singapore stock exchange this summer.
The long term value of Formula One is at risk from several key factors. A successor to Bernie Ecclestone, F1’s 81-year old CEO, is as yet unclear, and the long-term viability of F1 as a business needs protecting, both from the breakaway of internal factions and the threat of an external takeover.
This is a story that resonates strongly with me. As an advisor to many people over the years, one of the most valued qualities I hear from CEO’s and business leaders is their need to find someone who will tell them how things ‘really’ are. ‘Yes Men’ are all too easy to acquire, and the higher you climb, the less likely anyone will actually tell you the whole truth.
I heard on the grapevine this morning that motorsport writers, David Tremayne and Joe Saward have joined Ansar Ali and Tony Fernandes on the board of Caterham Group.