Formula 1 News

Caterham confirms job losses

The team was bought by a swiss-middle eastern group few weeks ago.
Thursday, July 17, 2014

Jul.17 (GMM) Caterham has confirmed reports "a number of employees" have left the team.

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We reported earlier that, after founder Tony Fernandes' sale of the Malaysian team to mystery Swiss-Middle Eastern investors, advisor Colin Kolles had overseen the exit of "at least" 50 members of staff.

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Christijan Albers is now Team Principal, supported by Manfredi Ravetto, General Manager and Deputy Team Principal. Simon Shinkins has also joined the team as COO, as well as Miodrag Kotur who is now Team Manager.

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Caterham announced on Thursday morning a number of appointments, whilst also admitting it has "parted company with a number of employees".

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"This is a necessary step taken by the new owners of Caterham F1 Team whose priority is the future of the team," a media statement read.

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"No further comment will be made at this time."

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