Wolff signs new 3-year Mercedes F1 deal
52-year-old Wolff began working at Mercedes in January 2013.
Toto Wolff has extended his tenure as Mercedes F1's team principal and CEO for an additional three years.
Wolff, a third part owner of Mercedes Formula One, announced to the Telegraph that he has extended his term through the end of 2026.
Mercedes won eight constructors' titles in eight seasons between 2014 and 2021 and finished second behind Red Bull in 2023.
"I'm not going to try to hang on to a position that I think somebody is going to do better than me," Wolff said.
"I make sure that I have people around who can tell me otherwise. In the end the three of us decided: 'Let's do it again'."
52-year-old Wolff began working at Mercedes in January 2013.
Mercedes-Benz, Austrian Wolff, and a division of Ineos—owned by Manchester United backer Sir Jim Ratcliffe—own an equal stake in the squad.
Mercedes' Lewis Hamilton placed third in the drivers' championship last season but the squad has won only one race since 2021.
The Bahrain Grand Prix, held from February 29–2, is the first race of the 2024 Formula One season.