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Williams confirmed on Friday the appointment of Adam Parr as the team’s new Chief Executive Officer. Parr will replace departing CEO Chris Chapple and will take up his position on November 27.

“I have followed Williams for many years and feel privileged to be able to work with the team,” commented Parr. “Next season marks the beginning of a new era for us and I am particularly excited about the opportunity to develop our partnerships with Toyota and the existing sponsor community.”

Parr graduated from Cambridge University before starting work at Barclays Investment Bank. In 1990 he joined Rio Tinto, one of the world’s leading mining companies, where he held a number of senior positions, including that of Managing Director of its industrial minerals business. Parr has lived and worked in Africa, Europe, Japan and Australia and is also a qualified barrister.

“Adam has been known to me for a long time,” explained team boss Frank Williams. “He is a passionate supporter of Formula One and Williams and I am confident that, with his wealth of experience, Adam will make a considerable contribution to the future progression of the business.”