LONDON, England, Jan 16, 2013 (AFP) - Formula One stable Marussia has parted company with German driver Timo Glock by mutual consent after three
years, the British-based team said Monday.
"Timo has made a very significant contribution to our Team over the past three seasons, helping us to develop our package to the point where, for a
large proportion of the 2012 season, we were holding 10th place in the Constructors' Championship. Timo is a fantastic driver and he has been a very
popular member of the Team," said team principal John Booth.
Stressing their intention to bring on emerging talent, Booth added the current economic climate had been a factor behind their decision.
"The ongoing challenges facing the industry mean that we have had to take steps to secure our long-term future. Tough economic conditions prevail and the commercial landscape is difficult for everyone, Formula 1 teams included.
"We would like to thank Timo for working with us to reach this decision, especially as he had a valid contract, and also for the contribution he has
made to our Team. We wish him all the best for his future."
Glock, 30, said: "I have had three excellent years with the Marussia F1 Team, during which I had the chance to actively participate in building and
developing the Team in its endeavours to succeed within the Formula 1 World Championship.
"I would like to wish the Team good luck in navigating this next period and thank everyone for the great times we shared and the support I have received.
"Although it is not the path I expected to be taking, I am in fact very excited about what the future holds in terms of my own career and I hope to
comment on that very soon."
The new season starts in Australia on March 17.