Nick Fry steps down as CEO at Mercedes

Friday - 3/22/2013, 6:47am EDT

SEPANG, Malaysia (AP) -- Mercedes says chief executive officer Nick Fry will step down in the latest personnel change to hit the Formula One team.

Toto Wolff, the team's executive director, will take on a greater role including many of Fry's responsibilities in the day-to-day running of the team alongside team principal Ross Brawn. Fry will step down in April.

Wolff replaced Mercedes motorsports chief Norbert Haug after last season in a management shake-up that also saw the arrival of former champion Niki Lauda. On the track, the team brought in Lewis Hamilton from McLaren to replace seven-time F1 champion Michael Schumacher, who retired for a second time after the season.

Fry will continue working for the team as a consultant in its commercial operations through 2014.


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