Williams introduced forward of the Belgian Grand Prix that it had been offered to American funding fund Dorilton Capital, safeguarding the group’s future following a interval of monetary uncertainty.
The sale of the group has led to various adjustments at Grove, together with the exit of the Williams household following Sunday’s Italian Grand Prix at Monza.
Williams introduced final week the brand new composition of the board of administrators, that includes Dorilton founders Matthew Savage and Darren Fultz, in addition to former racing driver James Matthews.
O’Driscoll had beforehand been on the board of administrators at Williams, however in an announcement on Tuesday, Williams stated that the 64-year-old was planning to retire following his exit from the group.
O’Driscoll will “the smooth transition of ownership through this year and ensure that the team is well positioned to build for the future”, based on Williams.
“It has been and remains a huge privilege to be part of this great team,” O’Driscoll stated.
“I am proud to have played my part in securing the long-term future of Williams and look forward to working closely with Matthew and his team, to ensure a smooth transition and the best possible trajectory for the team’s future success.”
Dorilton and Williams chairman Savage added: “Mike has made a huge contribution as CEO, working alongside the Williams family since the IPO in 2011.
“He has steered the company facet of the group admirably via difficult occasions and has been invaluable in getting ready Williams for the subsequent thrilling part.”
It marks the latest major management departure at Williams following that of team founder Sir Frank Williams and deputy team principal Claire Williams after the Monza race weekend.
Claire Williams had been offered the chance to stay on at the team, but felt it was the “proper selection” to leave.
Williams is yet to announce who will take over the day-to-day running of the squad, but an interim appointment is due to be made ahead of this weekend’s Tuscan Grand Prix at Mugello.