Parr resigns as Williams chairman

Adam Parr has resigned as Williams Chairman and will leave the team at the end of the week, the Grove-based team have announced.

The Briton joined Williams initially in the role of Chief Executive Officer at the end of the 2006 season and in 2010 was made Chairman, taking over day-to-day responsibilities for the former World Championship-winning outfit from founder Frank Williams.

Parr was believed to have been being earmarked by Williams as his eventual successor as Team Principal but on Monday morning the team announced his resignation, with his departure on Friday.

Nick Rose, currently a non-executive director of the Williams, has been appointed Non-Exectutive Chairman with majority shareholder Frank Williams continuing to oversee the company along with shareholder Toto Wolff and the rest of the company board to

Williams thanked Parr for his contribution to the team over the past six years and said he left on “good terms” in order to “pursue a better balance in life”.

“I asked Adam to join Williams at the end of 2006 to support me in the running of our team. Over five years, Adam’s achievements have surpassed my expectations and I must thank him for his service,” Williams said in a statement.

“Not least for the decisive role he played in the technical changes made last year which are beginning to show through in the team’s improved competitiveness this season, and for leading this company to a successful IPO.

“Adam leaves us on good terms to pursue a better balance in his life for which I wish him and his family well. He has left us in good shape and I have every confidence that the Board and senior management team at Williams will continue to drive the business forward into a promising future.”

Parr described Williams as a “unique team” and expressed confidence that he leaves them in strong shape to progress.

“I am very grateful to Frank for giving me the opportunity to work for Williams over the past five years – a period that has been both challenging and rewarding,” he said.

“Williams is a unique team with over 500 great-hearted and talented people and many superb partners in and out of Formula One. Williams is now set up to move forward and I wish everyone at Grove well.”

Williams has already begun to move towards a new era over the past 12 months with Frank Williams stepping down from the board on the eve of this season and fellow co-founder Patrick Head stepping aside from all involvement in the F1 side of the business.