Mercedes Announces New Co-Owner and Tech Advisor in Strategic Move

Toto Wolff has adjusted his stake in the Mercedes-AMG Petronas F1 Team, ceding a portion of his ownership to George Kurtz, CEO and founder of CrowdStrike. This move sees Kurtz, an AI cybersecurity leader and accomplished racer, join the team's strategic steering committee and take on a new role as technology advisor.

Why it matters:

This isn't just a simple ownership shift; it's a strategic infusion of tech expertise and capital at a crucial time for Mercedes. As Formula 1 increasingly relies on data analytics, AI, and cutting-edge technology for performance, bringing in a figure like George Kurtz — who has a proven track record in both tech and motorsport — signals Mercedes' commitment to pushing boundaries and maintaining a competitive edge in an evolving sport.

The Details:

• Ownership Restructure: Toto Wolff, who previously held a one-third stake alongside Mercedes-Benz and INEOS, has relinquished 15% of his shares to George Kurtz.
• New Strategic Role: Kurtz will serve as a technology advisor, focusing on the intersection of competitive motorsport, data analytics, and performance. His expertise in AI cybersecurity is expected to bolster the team's innovation strategy.
• Steering Committee Appointment: Kurtz also joins the team's strategic steering committee, sitting alongside key figures like Ola Källenius (Chairman of the Board of Management of Mercedes-Benz Group AG), Sir Jim Ratcliffe (INEOS), and Toto Wolff.
• Governance Intact: Mercedes has confirmed that the overall governance structure of the team remains unchanged, and Toto Wolff will continue in all his existing executive roles.
• Kurtz's Background: Beyond his success as CEO of CrowdStrike, Kurtz is an accomplished endurance racer, with wins including the 2023 24 Hours of Le Mans (LMP2 Pro-Am class), the 2021 12 Hours of Sebring, and multiple victories in Mercedes-AMG GT3 cars.

What's next:

This strategic partnership with George Kurtz is expected to accelerate Mercedes' technological development, especially in areas like data analysis and cybersecurity, which are becoming increasingly critical in modern F1. His role in expanding the team's ecosystem across the U.S. and global technology sectors could also open doors for new tech partners and investments.

• Wolff emphasized Kurtz's unique blend of racing insight and business acumen, stating this combination is "increasingly relevant to the future of Formula 1."
• Kurtz himself highlighted the synergy between winning in racing and cybersecurity, noting that "milliseconds matter. Execution counts. Data wins." This philosophy aligns perfectly with F1's relentless pursuit of performance through technology.
• The team will be looking to leverage Kurtz's advisory capacity to gain a competitive advantage as the sport moves towards new technical regulations and an even greater reliance on data-driven decisions.