CEO Chapple leaves Williams team

The team said Chapple's departure has been by mutual consent.

Chapple, who had spent seven years in the Commando Units of the Royal Marines, joined Williams at the start of 2005 as their head of finance.

"I joined Williams at a time of significant change for the team," said Chapple. "Since then, I have had the privilege of working with Frank and the other members of Williams' Senior Management Group as we successfully addressed a number of key strategic issues, including the conclusion of a long term engine supply agreement.

"The team is in robust commercial and operational health. I believe that the challenges that lie ahead call for a different set of skills and so I have agreed with Frank that now is the right time for me to step aside.

"I have enjoyed my time with Williams a huge amount, and am proud of the contribution that I have been able to make. I wish the team all the best as they move back to where they belong, at the front of the grid."

Team boss Frank Williams praised Chapple's contribution to improving the team's situation.

"Chris joined WilliamsF1 two years ago when the company faced a series of significant strategic challenges which included replacing our engine supplier, our principal sponsor and negotiating a highly complex and difficult commercial agreement with FOM, the manufacturers and the other teams," said Williams.

"Chris played a leading role alongside Williams' Senior Management Group in addressing each of these issues and the organisation now benefits from a new title sponsor and a multi-year engine agreement.

"The next two years will present different challenges for Williams. As a result, we have mutually agreed that Chris will leave the team and move on to a new challenge. I sincerely thank Chris for his contribution to the team over the last two years and wish him all the best for the future."