Sir Frank Williams insists he is not retiring.<\/p>\n
The 68-year-old’s British team announced at Silverstone that former chief executive Adam Parr is taking over as chairman from founder, boss and co-owner Williams.<\/p>\n
Williams remains the team principal, but some figures saw Wednesday’s announcement as an indication that his nearly half-century involvement in formula one is nearing an end.<\/p>\n
A headline in Spain’s El Pais newspaper said Williams, who recently sold some of the Grove based team to Austrian investor Toto Wolff, had ‘begun his retirement’.<\/p>\n
But the Briton told reporters that, with his long-time business partner Patrick Head also in his advancing sixties, the move is simply another prudent step in a succession plan.<\/p>\n
“I wish to emphasise that this is absolutely not notice of my impending retirement,” said Williams, who became confined to a wheelchair after a road crash in 1986.<\/p>\n
“I love formula one, I have a strong involvement in the company and go to work every day.\u00a0 When I’m going to retire hasn’t crossed my mind,” he added.<\/p>\n
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