Whitmarsh departs McLaren after agreeing settlement
|27 August 2014 by TF1T Staff||Tweet
McLaren and former team principal Martin Whitmarsh have officially parted company after agreeing upon a financial settlement.
McLaren Group CEO Ron Dennis, who returned to the position in January, removed Whitmarsh from his role after the team suffered its worst ever season in F1.
He left in December, but remained employed by McLaren until this week when the pair agreed a generous leaving package in line with his 24 years of service.
The team refused to be drawn the details, but it's believed to include a substantial amount of money many times his salary.
Dennis installed Eric Boullier as racing director this year alongside Jonathan Neale as Group F1 CEO after changing the structure of the team as he believed a team principal was no longer required.
"The first four races this year, the team doesn't come back [to base]," said Dennis. "With the former role of team principal, it was like being out of the company for four months.
"I defy anyone to run a company and have four months out of the company."