Toto Wolff has signed a three-year contract to remain team boss and managing director of Mercedes F1.
Wolff, who owns a third of Mercedes F1, told the Telegraphexternal that he has extended his contract until the end of 2026.
Mercedes won eight constructors' titles in eight seasons between 2014 and 2021 and finished second behind Red Bull in 2023.
“I’m not going to try to stick to a position that I think someone can do better than me,” Wolff said.
“I make sure I have people around me who can tell me otherwise. In the end the three of us decided, 'Let's do it again'.”
Wolff, 52, has been with Mercedes since January 2013.
The team is owned equally by Mercedes-Benz, the Austrian Wolff and a subsidiary of Ineos, which is controlled by Manchester United investor Sir Jim Ratcliffe.
Mercedes driver Lewis Hamilton finished third in the drivers' standings last season, but the team has only won one race since 2021.
The 2024 F1 season begins with the Bahrain Grand Prix from February 29th to March 2nd.
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