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Formula 1

Lawrence Stroll cements his control of Aston Martin

Lawrence Stroll, owner of the Aston Martin F1 Team, has increased his control over Aston Martin Lagonda Global Holdings after stakeholders decided to sell their shares. The development will help the Canadian solidify his position within the company, as well as reassert his authority over the Formula 1 team.

Article
To news overview © Racing Point

Billionaire Lawrence Stroll has increased his control over Aston Martin Lagonda Global Holdings - and by extension, the Aston Martin F1 Team - after Kuwaiti investors shrank their shareholder stake.

Lawrence, who is the father of driver Lance Stroll, led a rescue of the sports car manufacturer last year, becoming Aston Martin's chairman in the process.

Since then, he has injected much-needed cash back into the company and has rebranded his former F1 team - Racing Point - into Aston Martin.

Bloomberg reports that the recent board shake-up at Aston Martin is the second in less than a month, after three members stepped down in late January - to be replaced by five new directors with Stroll's backing.

The move gives Stroll greater control over the direction the brand is heading in, with its Formula 1 team expected to play a crucial role in his overall grand strategy to revive the British carmaker.

Aston Martin will take to the F1 grid when the season gets underway in March, though much of the infrastructure surrounding the team will be carried over from the successful Racing Point outfit that Stroll previously presided over.

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