(Bloomberg) -- Audi has tapped the former head of Ferrari NV’s Formula 1 team to lead a push by the Volkswagen AG brand to join the racing competition in 2026.
Mattia Binotto will assume the roles of chief operating officer and chief technical officer at the Sauber Motorsport AG F1 business starting next month, Audi said Tuesday. He has been selected in part to strengthen the project’s recruiting efforts.
He’ll replace Oliver Hoffmann, who vacated his position on Audi’s management board to oversee the F1 project, and Sauber Motorsport CEO Andreas Seidl. It’s unclear whether Hoffmann will take on another position at Audi, the spokesperson said.
Audi, which took full ownership of the Sauber F1 team earlier this year, said the shakeup is intended to provide clearer management structures and streamline decision-making. As part of those efforts, Audi Chief Executive Officer Gernot Döllner will become Sauber Motorsport’s chairman.
A mechanical engineer, Binotto became team principal of Ferrari’s F1 team in 2019 but resigned three years later after a disappointing season that failed to bring the title back to the Italian supercar maker. He also managed the Ferrari team’s engine department and served as its technical director.
F1 has seen a string of deals and a jump in valuations since Liberty Media Corp. took over the sport in 2017 and marketing investments soared. Popularity in the US has taken off after the success of the Netflix documentary series Drive to Survive.
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