Toto Wolff sells part of Mercedes F1 stake to CrowdStrike CE...

CrowdStrike's George Kurtz has acquired 15% of Toto Wolff's holding company, representing 5% of shares in the Mercedes F1 team.

Kurtz, the CEO and founder of cybersecurity firm Crowdstrike, came on board as a Mercedes sponsor in 2019 and has now become an owner, as well as joining then team as Technology Advisor.

Kurtz has personally acquired 15% of the holding company controlled by Mercedes F1 CEO Toto Wolff, which holding one third of the shares in the Mercedes F1 team, with the Brackley squad's shares split three ways with Mercedes-Benz and British chemical giant Ineos. The team announced Kurtz will also join the team's strategic steering committee alongside Mercedes chairman Ola Källenius, Ineos chief Jim Ratcliffe and Wolff, while advising the team on its technology strategy.

Otherwise, the leadership structure of the team otherwise remains unchanged, with Wolff remaining in place as CEO and team principal.

"George's background is unusual in its breadth: he's a racer, a loyal sporting ambassador for Mercedes-AMG, and an exceptional entrepreneur," Wolff said. "He understands both the demands of racing and the realities of building and scaling technology businesses. That combination brings specific insight that is increasingly relevant to the future of Formula 1."

Kurtz, who is an experienced sportscar racer, added: "Winning in racing and cybersecurity requires speed, precision, and innovation. Milliseconds matter. Execution counts. Data wins.

"Technology is reshaping competitive advantage and human capability everywhere, including motorsport. I'm excited to help the team securely accelerate forward."