Founder and principal Frank Williams will step down from the board of former Formula One world champions Williams at the end of the month, the team said on Friday.
"I turn 70 in April and I have decided to signal the next stage in the gradual but inevitable process of handing over the reins to the next generation by stepping down from the Board at the end of this month," he said in a team statement.
"This is not as dramatic a move as it may appear: I shall continue to work full-time as Team Principal and I shall continue to attend all Board meetings as observer."
Williams, whose daughter Claire will join the board on April 1 as director of marketing and communications, remains as the majority shareholder in Williams Grand Prix Holdings PLC.
“It is no secret that Claire is my daughter but I am proud to say that she has fought hard to earn this appointment and of all the battles she has had to fight, the prejudices of her father were not the least challenging," said Williams.