Mercedes has announced Toto Wolff and Niki Lauda have extended their contracts with the team until the end of 2020.
Wolff who is currently Head of Motorsport the team from Williams at the start of 2013 while three-time Formula 1 champion Lauda joined the Silver Arrows towards the latter stages of the 2012 season and was instrumental in bringing Lewis Hamilton from McLaren to Mercedes.
The two figureheads of the team will remain until the end of 2020, which coincidentally is when F1’s Concorde Agreement ends.
Wolff and Lauda have overseen success after success during their time with the German manufacturers, winning three straight drivers’ and constructors’ titles, taking 51 Grand Prix victories in 58 races.
“It’s great news that Toto and Niki have extended their agreements,” said Daimler CEO Dieter Zetsche.
“In 2013, we restructured the management of the team with the clear goal of improving our performance. Since then, however, the results have exceeded our expectations.
“A key factor in this success has been the combination of Toto’s entrepreneurial skills and Niki’s experience.
“Their renewed commitment gives our programme important continuity for the next four years.”
Mercedes will unveil its 2017 challenger on Thursday, February 23.
