Holio: To avoid cost overruns, we are working with the FIA

Mercedes continues to introduce fans to specialists of different profiles working in the team, and this time the floor was given to Chris Holio, who holds the position of deputy finance director.

Chris Holio: “My job is to make sure everything related to the finance function of the team works. There are many aspects here, and they are different. Some of our department’s specialists are responsible for relations with the team’s business partners, some monitor compliance with financial regulations and, of course, it is very important to establish the exchange of a wide variety of information.

It’s about making accurate economic forecasts and controlling costs to avoid budget overruns, but I’m also responsible for ensuring our business delivers value to our shareholders and providing the necessary information to the FIA.

I spend a significant amount of my working time ensuring that the team successfully completes all tasks encompassed by the finance function, and recently I have been increasingly involved in overseeing the implementation of financial regulations.

We are doing everything we can to ensure that the team adheres to it and to avoid budget overruns, we are working closely with the FIA. I am in constant contact with representatives of the federation so that there is no doubt that we are correctly interpreting the provisions of the financial regulation. It is important to avoid misinterpretations of its provisions, as this could ultimately damage the image of the team. This is also the reason why we ourselves carry out the necessary financial audits within the team.

One of the most difficult aspects of my job is that Formula 1 is constantly changing, it is a very dynamic system, so it is very important that our economic forecasts are as accurate as possible. Of course the team has to work as efficiently as possible and get results on the track.

I’ve been in this team for 14 years and when I joined in 2008 it was still called Honda. She then competed in the championship in 2009 as Brawn GP, ​​after which she became the Mercedes works team. On the one hand, more and more new specialists have recently joined us, but there are also some with whom we have been working for more than ten years. I know these people very well, they are good friends of mine and we have all been working together for so long, also because the constant changes that take place in Formula 1 mean that we are facing new challenges.

This is always a new challenge, and therefore a new stimulus. My role has also changed over the years, I had to deal with all kinds of tasks related to the financial sector, and when you take on something new, it’s always interesting. I’ve always enjoyed dealing with engineers, being involved in complex complex projects and I’ve always loved sport, so being in a Formula 1 team suited me perfectly.”