ART Grand Prix co-founder Nicolas Todt has sold his stake in the team to its other shareholders.
Todt, who manages drivers including Charles Leclerc and Felipe Massa through his All Road Management setup, created ART in 2004 together with current Sauber Formula 1 principal Frederic Vasseur, then boss of the ASM Formula 3 team.
ART won the first two GP2 drivers’ titles with Nico Rosberg and Lewis Hamilton and took further titles with Nico Hulkenberg and Stoffel Vandoorne, as well as this year’s Formula 2 crown with George Russell.
It has won the teams’ title in eight of the nine seasons of GP3 – as well as six drivers’ championships with the likes of Esteban Gutierrez, Valtteri Bottas, Esteban Ocon and Leclerc – and continued ASM’s success in European F3 before leaving in 2010.
?I am very proud to have contributed to the creation and development of this team, which has always enjoyed great success,” said Todt.
“Its corporate culture, which focuses on young people and allows them to flourish, is a trademark of ART Grand Prix and to its credit.
“ART Grand Prix has allowed the emergence of young talents at all levels of the company: mechanics, engineers and of course drivers who are the visible part of this iceberg and some of whom have subsequently made their mark in the history of F1.
“My experience at ART Grand Prix has been rich in lessons as well as a catalyst for my activities in motorsport.
“I wish ART Grand Prix and all those who are associated with it to continue on the same path of excellence and to fight at the forefront in the various championships in which they will participate.”
Vasseur added: ?I founded ART Grand Prix with Nicolas at a time when pooling our individual areas of expertise could benefit all parties involved.
“There has certainly been synergy since its birth in 2004, with ART Grand Prix achieving most of the goals it had set and Nicolas playing a large part in the overall success of the company. Without him, this development would not have been possible.
“Today the evolution of ART Grand Prix, mine and that of Nicolas, naturally led us to take different paths in a win-win strategy that will allow everyone to continue their career in the best conditions.
“I thank Nicolas for these years of collaboration which have been extremely rich in results and wish him the best for 2019 and the years to come.”