Ron Dennis has been forced out as chairman and chief executive of McLaren, bringing to an end the Briton’s 35-year involvement with one of Formula One’s top teams.
The 69-year-old relinquished his duties on Tuesday following a decision by the majority shareholders to place him on ‘gardening leave’ until his contract expires in mid-January.
McLaren said in a statement that Dennis, who has a 25 percent stake in the McLaren Technology Group, would remain a shareholder and director.
It said an unidentified consortium of Chinese investors had made a 1.65 billion pounds takeover bid for McLaren Technology Group that Dennis supported but the other shareholders opposed.
