F1: Fernandes Hands Caterham Reins To Abiteboul

Formula 1

F1: Fernandes Hands Caterham Reins To Abiteboul

A successor for Caterham team principal Tony Fernandes has been appointed...

Adam Cooper | http://www.speedtv.com | Posted November 08, 2012 Balen (BEL)

Cyril Abiteboul is the new man in charge at Caterham. (Photo: LAT Photographic)

Cyril Abiteboul, who became CEO of Caterham F1 in September, has been promoted to the role of team principal.

The former Renault man replaces team founder Tony Fernandes, who is focusing on the overall Caterham Group and his other businesses, including Air Asia.

Fernandes said: “The strategy for the establishment and growth of Caterham Group has now reached the stage where we can step back from the day to day running of the F1 team in favor of Cyril who will be able to dedicate himself full time to the role and work closely with Riad [Asmat] to help take our automotive interests into the next stage of their growth.

“[Cyril] has extensive experience in F1, he is extremely well-respected and he shares our vision for what we want our team to achieve. He takes over during a season when we have not yet fulfilled our potential, but at a time when we have everything in place to help us do so. One day we will earn our seat at the top table of Formula One, and he is the right person to take us there.”

Abiteboul added: “We have big challenges ahead of us but the shareholders are committed and behind us to help us take significant steps forward over the coming years, and one day challenge for the highest honors in F1.”

Adam Cooper notched up his 27th season as a racing journalist in 2011. He has written about F1 for SPEED.com since 2005. Follow him on Twitter.