Renault have formally begun the process of installing new directors at the helm of its Formula 1 squad following the takeover of the Lotus F1 Team from previous owner Genii Capital Group.
Renault announced in December that Jérôme Stoll had been nominated as President of Grigny (UK) Ltd, a subsidiary of the French manufacturer which will operate the F1 team, while Renault Sport F1 managing director Cyril Abiteboul will remain as a director of the entity.
Former Lotus F1 Team owner and CEO of Genii Capital Gérard Lopez will retain a 10% interest in the new structure.
This week, Renault announced that on December 18, it had added to Grigny's board of directors both Cyril Abiteboul and Renault Group's director of financial operations Thierry Cognet (pictured above with Abiteboul).
The newly appointed directors replace Genii's Eric Lux and Lotus F1 investor Andrew Ruhan, who both resigned from their directorship back in December.
It is expected that Renault will divulge in early February the entire organisation structure for its F1 outfit as well as its commercial partners, its formal name change from Lotus to Renault and the livery of its new Grand Prix contender.
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