F1 News: Jost Capito steps down from role as Williams CEO
Williams has announced that Jost Capito has stepped down from his role as CEO following a two-year spell with the team.
Capito postponed his retirement from motorsports to take the mantle at Williams, as the British squad transitioned to new ownership with Dorilton Capital's acquisition.
The last few years have been exceedingly difficult for Williams, with the 2019 season marking an especially tough patch as the team slowly slipped down the grid.
Despite these struggles, Capito led the team to eighth place in the 2021 standings and its first podium since the 2017 season.
Although Williams is still far from its former glory, the Grove-based team seems to have at least stabilised after its years of financial difficulty.
The departure of Jost Capito and Williams' Technical Director comes at a seemingly bad time for the team, with the 2023 season only months away.
This will make the next few weeks extremely important in order to find adequate replacements and maximise wind tunnel time.
Jost Capito said the following about his departure:
"It has been a huge privilege to lead Williams Racing for the last two seasons and to lay the foundations for the turnaround of this great team. I look forward to watching the team as it continues on its path to future success."
Dorilton Capital's Chairman, Matthew Savage, has also given his thoughts:
"We would like to thank Jost for his hard work and dedication as we embarked on a major transformation process to begin the journey of reviving Williams Racing.
"We're grateful that Jost postponed his planned retirement to take on this challenge, and now he will pass the reins on for the next part of this staged process.
"We would also like to thank FX for his contribution and wish him all the best for his future as he moves on."
Williams has spent several seasons languishing at the back of the grid and - despite a few points- started the new regulations in a similar fashion.
Moving forward, it will be essential for the team to demonstrate they have the potential to compete and climb the Formula 1 grid.