McLaren Group COO Jonathan Neale to leave company after two decades

McLaren stalwart Jonathan Neale, who has been with the Woking-based company for two decades, is to leave later this year.

McLaren Group COO Jonathan Neale to leave company after two decades

Neale originally joined McLaren as its Formula 1 operations director in 2001, before moving up to become the team’s managing director in 2005.

He helped play a part in the evolution of the squad as it grew stronger in that period before it helped Lewis Hamilton win his first F1 drivers’ world championship in 2008.

Neale remained in that role for several years, through many changes of team principals, before he became acting chief executive in 2015 as the team embarked on its new partnership with Honda.

At the time, his senior role meant he often represented McLaren in team meetings, including in F1’s Strategy Group.

As team boss Ron Dennis’ second tenure came to an end in 2016, Neale stepped away from any direct involvement with the day-to-day running of the F1 outfit as he became chief operating officer of the entire McLaren Group.

He has continued in that role, which encompasses McLaren Racing, McLaren Automotive and McLaren Applied Technologies, until now.

McLaren has confirmed, however, that Neale will be stepping down at an unspecified point later in the year.

Jonathan Neale, Managing Director, McLaren, and Andreas Seidl, Team Principal, McLaren

Jonathan Neale, Managing Director, McLaren, and Andreas Seidl, Team Principal, McLaren

Photo by: Steven Tee / Motorsport Images

The change comes with McLaren having undergone major business changes over the past few years in a bid to shore up its finances.

In July this year, the McLaren Group announced that it had been given a £550 million boost of fresh investment from Saudi Arabian backers.

It comes on the back of McLaren Racing selling a stake in its operation last year to a US-based consortium led by sports investment group MSP Sport Capital.

MSP acquired a 15% stake in McLaren initially, but could increase its shareholding to a maximum of 33% by the end of 2022.

As well as attracting new investors, McLaren also agreed this year a sale and leaseback deal for its McLaren Technology Centre to provide it with a boost of capital.

The £170 million sale was agreed with Global Net Lease, with the transaction due to be completed in the next few months. It will include a 20-year lease deal for McLaren.

shares
comments

Related video

How Monza only added more questions to F1's sprint race conundrum
Previous article

How Monza only added more questions to F1's sprint race conundrum

Next article

Albon yet to find out what ‘very strict’ clauses cover to protect Mercedes

Albon yet to find out what ‘very strict’ clauses cover to protect Mercedes
Singapore Grand Prix Driver Ratings 2022 Plus

Singapore Grand Prix Driver Ratings 2022

A testing return to the Singapore Grand Prix in tricky conditions created plenty of hazards and mistakes for the Formula 1 drivers to fall into. That partly explains a number of low scores, including from a handful of high profile runners, allowing others to take a starring role under the floodlights

The two key contributors to Leclerc's defeat to Perez in F1's 2022 Singapore GP Plus

The two key contributors to Leclerc's defeat to Perez in F1's 2022 Singapore GP

In a marathon Formula 1 Singapore Grand Prix, Sergio Perez’s victory was only assured hours after the race due to a stewards investigation. Throughout the contest the Red Bull driver impressively held off Ferrari’s Charles Leclerc in changing conditions to see the Mexican pull out enough of an advantage to negate his post-race penalty

The time-honoured manufacturer model that can't apply to all F1 teams Plus

The time-honoured manufacturer model that can't apply to all F1 teams

What happens, asks MATT KEW, if the old adage of win on a Sunday, sell on a Monday is no longer true for F1 manufacturers?

Formula 1
Oct 2, 2022
Why is Oscar Piastri F1's most sought-after rookie? Plus

Why is Oscar Piastri F1's most sought-after rookie?

The Australian rising star is fast, consistent, confident, adaptable and has shown excellent racecraft, but there’s already a taint to his reputation. That hasn’t stopped him becoming the hottest property in this year’s F1 driver market and why McLaren moved fast to snap up the 21-year-old

Formula 1
Sep 30, 2022
The unintended benefit that F1's new engine rules era will deliver Plus

The unintended benefit that F1's new engine rules era will deliver

Formula 1's incoming engine rules shake-up has multiple targets. But it may also solve what has been a bone of contention since the hybrids arrived in 2014. The new plan will allow the series to pump up the volume

Formula 1
Sep 29, 2022
How de Vries made himself impossible to ignore for a belated F1 chance Plus

How de Vries made himself impossible to ignore for a belated F1 chance

Nyck de Vries appeared to have missed his opportunity to break into Formula 1 as he was passed over for more exciting talents who have now become frontrunners and title fighters. But after catching the eye outside of the F1 sphere, before his stunning impromptu grand prix debut in Italy, will it lead to a delayed full-time race seat?

Formula 1
Sep 29, 2022
Can Hamilton produce another Singapore magic moment? Plus

Can Hamilton produce another Singapore magic moment?

The Singapore Grand Prix has, explains BEN EDWARDS, played an important role in Lewis Hamilton’s Formula 1 career. As the series returns to the Marina Bay Street Circuit for the first time in three years, he faces the latest challenge with an underperforming Mercedes car

Formula 1
Sep 28, 2022
Why Sainz is key to Ferrari achieving its chairman's F1 goals Plus

Why Sainz is key to Ferrari achieving its chairman's F1 goals

Although Ferrari's chances of title glory in 2022 have evaporated, chairman John Elkann expects the team to have chalked up both championships by 2026. Both require drivers to play the team game and, having now become more comfortable with the F1-75, Carlos Sainz may be Ferrari's key to title glory

Formula 1
Sep 27, 2022