It was announced by the AT&T Williams team that Frank Williams would be handing over day-to-day control of the Williams team to former chief operating officer Adam Parr, but will continue in his role as team principal.  Williams made it clear that he has no plans to retire and will remains committed to the team on a full-time basis.

Frank Williams, Team Principal, said, “Adam joined Williams in 2006 as Chief Executive Officer. He has taken the lead in putting the team on a stronger financial footing, developing new businesses and building our social responsibility programme. These initiatives have seen us partnering with such outstanding organisations as Porsche and Cambridge University Press respectively in hybrid technology and education. I have now asked him to step up to Chairman in my place to give him both the responsibility and the authority to ensure the good running of all aspects of the team and the company.”

Parr commented of the announcement by saying: “It is both a great honour and a big responsibility to take over Frank’s role as Chairman of Williams. Frank remains our controlling shareholder and Team Principal and he will always be the name, the face and the inspiration of this team.

My aspiration is to ensure that the team and the company are run to the high standards that Frank and Patrick Head have always demanded, both on and off the track. In this, I am fortunate to count on dedicated partners, a strong board and, above all, a great team of dedicated and talented people at Grove.

“I am also pleased to announce that Alex Burns steps up from the role of Chief Operating Officer to that of Chief Executive Officer. In addition to his responsibilities for the production side of Williams F1, Alex chairs Williams Hybrid Power Limited and the Williams Technology Centre in Qatar.”

Williams emphasised that there will be no change either to the shareholding structure of the team, or to the technical department. Co-owner Patrick Head remains as director of engineering, with Sam Michael as technical director.

He also pointed to Parr as representing the long-term future of the team, although the new Williams chairman ruled out ever taking up the position of team principal.

"He is most definitely the right man to carry the company forward when I eventually do leave the company," said Williams.