Alain Prost becomes director of Renault F1 team’s parent company

Formula 1

Four-time world champion Alain Prost has taken a more formal role with the Renault Formula 1 operation by becoming a non-executive director of the UK company behind the race team.

Earlier this month, Prost was appointed as a member of the board of Renault Sport Racing Ltd – a direct replacement for Renault Group executive Thierry Bollore.

The move gives Prost a post similar to that which his former McLaren F1 team-mate Niki Lauda held as a non-executive director of Mercedes Grand Prix until his death in May.

Bollore has left his role with the Renault F1 squad as he has taken on extra responsibilities as the Renault Group CEO following Carlos Ghosn’s resignation amid controversy in January.

Prost has been an advisor to Renault’s F1 project since the French manufacturer took over the former Lotus team at the end of 2015.

It is unclear whether his new role will require any changes in his day-to-day contribution to the running of the team.

The other directors of Renault Sport Racing Ltd are team principal and managing director Cyril Abiteboul, company president Jerome Stoll, Renault Group financial chief Thierry Cognet and Genii boss Gerard Lopez.

Lopez has retained a minority stake in the team since its Lotus days through his Gravity Motorsports organisation.

A Renault spokesperson described the role of the team’s board of directors as “establishing vision, mission and values, setting strategy and structure, delegating to management, exercising accountability to shareholders and being responsible to relevant stakeholders”.

The board also takes “key decisions for the company such as approval of the annual accounts and financial statements and approval of key contracts with sponsors, partners and drivers”, the spokesperson added.

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