Mercedes’ shareholder wants to quit F1

Ingo Speich, a fund manager from the Daimler shareholder Union Investment, has called on Mercedes to quit Formula One.

According to Speich the three-pointed star has lost ground to its closest rivals Audi and BMW, “Mercedes is no longer the measure of all things in the premium sector,” he told Die Presse.

Speich aired his views at Daimler’s AGM and was applauded by other attendees. He said Daimler has endured “a lost decade” and suggested a withdrawal from F1 could allow the company to better concentrate its efforts on regaining lost ground.

We’re not sure if Speich’s comments will carry genuine weight, but boardrooms are where F1 battles belong, not in the political spotlight as we’re currently witnessing in Bahrain.

[Source: WCF]