Red Bull, the energy drink company that owns the Red Bull Racing and AlphaTauri teams, has approved a new leadership structure following the death of co-founder Dietrich Mateschitz.
Shareholders have decided that strategic and operational responsibility at Red Bull will no longer be carried out by one CEO, as was the case under Mateschitz, but will be split between three people. In a letter that Mateschitz’ son Mark sent to Red Bull staff, he explained that the solution “proposed by my father and supported by our Thai partners” has been implemented.
Red Bull’s new Board of Directors consists of Franz Watzlawick (CEO Beverages), Alexander Kirchmair (CFO) and Oliver Mintzlaff (CEO Corporate Projects and Investments).
“Franz, Alexander and Oliver were our dream team. I am very happy that they will take on this task,” said Mark Mateschitz.
In fact, the Formula 1 teams will now be responsible for Mintzlaff, whose responsibilities include all of the group’s advertising activities, and Kirchmayr, who, as chief financial officer, will approve all of Red Bull’s budgets and expenses.
Oliver Mintzlaff was until recently chairman of the board of directors of football club RB Leipzig and from 2014 to 2016 he was responsible for all Red Bull projects in world football. Before joining the Austrian company, Mintzlaff worked for Puma for eight years.
Source: F1 News
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