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The Williams family will leave the team founded by Sir Frank Williams more than 40 years ago after this weekend’s Italian Grand Prix.
Sir Frank founded Williams in 1977 and made it one of the most successful teams in sport.
But after a series of difficult years, last month the equipment was sold to the US investment group Dorilton Capital.
Williams and her daughter Claire, the team’s deputy director, will step down.
Williams won nine constructors ‘championships and seven drivers’ titles and dominated much of the 1980s and 1990s.
But their last victory was in 2012 and for the last two seasons they have finished last in the championship. Last year’s financial losses led the Williams family to seek new investments, which in turn led them to leave the team to make way for a new administration.
Claire Williams said: “Now that the future of the team is assured, it feels like the right time to move away from the sport.”
“As a family, we have always prioritized Williams. We have demonstrated this with our recent actions with the strategic review process and we believe that now is the right time to hand over the reins and give the new owners the opportunity to lead the team into the future. .
“We have been in this sport for over four decades. We are incredibly proud of our history and the legacy we leave behind.
“We have always been in this for love, for the sheer pleasure of racing, so this is not a decision that we have taken lightly but after much reflection and as a family.
“We are very grateful for Dorilton’s encouragement to continue, but in them we know that the team will be in good hands and that the Williams name will live on.”
“This may be the end of an era for Williams as a family team, but it is the beginning of a new era for Williams Racing and we wish them every success in the future.”
Matthew Savage, President of Dorilton Capital and the team, said: “We fully respect the tough decision by Claire and the Williams family to walk away from the team and the business after securing new resources for their future.
“Claire’s achievement in maintaining Williams Racing’s heritage, relevance and commitment to innovation in a challenging environment since taking office in 2013 has been nothing short of monumental.
“He has also been instrumental in shaping a more level technical and financial playing field for F1, which will help ensure the team’s return to the front of the grid in the coming seasons.”
“We are proud to take the Williams name into the next exciting phase for the sport.”
An illustrious history
Frank Williams founded Williams Grand Prix Engineering with Patrick Head in 1977, and the two forged one of the greatest partnerships in F1 history.
With Williams as team boss and Head as technical director, the team soon rose to the top of F1 and was responsible for some of the sport’s greatest cars and most successful eras.
His FW07 won his first race with Clay Regazzoni at the 1979 British Grand Prix, before Australian Alan Jones won Williams ‘first drivers’ title in 1980.
The drivers’ championships continued in 1982 with Keke Rosberg, 1987 with Nelson Piquet, 1992 with Nigel Mansell, 1993 with Alain Prost, 1996 with Damon Hill and 1997 with Jacques Villeneuve.
They won constructors’ titles in 1980, 1981, 1986, 1987, 1992, 1993, 1994, 1996, and 1997.
Along the way, Williams designed some of the most innovative and celebrated cars in F1, including the 1992 and 1993 FW14B and FW15, which were equipped with new technology such as active suspension.
They were also instrumental in establishing the careers of some of the biggest engineering names in F1.
Ross Brawn, who became Ferrari technical director during the team’s dominant era in the early 2000s, and won the championship with his own team in 2009, began his career at Williams.
And Adrian Newey, the sport’s most celebrated and successful design engineer, rose to prominence at Williams in the early 1990s, before going on to win more titles with McLaren and then Red Bull.
