Changes at Cosworth Racing

Tony Purnell, CEO of the Premier Performance Division of Ford Motor Company, which includes Cosworth Racing, today announced a range of changes at Cosworth Racing. This follows a five-month study during which he gained an understanding of the business, which he described as "complex and in many aspects truly impressive, but now faces the harsh realities of a significant downturn in the economy and particularly in, Formula One".

Tim Routsis will be taking the reins as the new Managing Director of Cosworth Racing with immediate effect. Tim is well known within the PPD, having previously been the Managing Director of the Pi Group. Less well known is that Tim comes from both an engineering and a business background. He started and successfully ran his own software Company (Protechnic), sold this and established an aircraft restoration concern (Historic Flying Ltd.) which he sold just before he started with Pi, heading up the development of the Sigma family of control and logging systems. Tim quickly became Director of Engineering at Pi and then was invited to be Managing Director of the Pi Group a year after Ford took over in Cambridge.

Routsis will take the helm of a new structure at Cosworth Racing, which will see the confusing two-MD system dismantled. He has been asked to undertake the role because he has the ability and experience to handle both engineering and commercial issues. The move is made possible by the fact that Brendan Connor has left the Company to pursue other interests, while Nick Hayes becomes Technical Director and will report directly to Tim.

Commenting, Purnell said; "Cosworth Racing is a stronger Company today because of Brendan's direction and effort over the last two years. Many of his initiatives are to be admired and have made the company notably more efficient than when he started."

Routsis will preside over a new management team at Cosworth, which will feature some new faces. Details will be announced in due course but one change is that Dr Adrian Chambers will join Cosworth immediately as the new Head of Manufacturing. Adrian comes from Jaguar Racing, where he has only been in post a few months, but prior to this he worked at Rolls-Royce aero engines. He brings to Cosworth impressive experience and know-how in manufacturing and has solid engineering knowledge. The present structure for manufacturing will remain in place for the present, with Adrian taking the place of Brendan Connor in directing the manufacturing effort.

In addition, Graeme Hughes and Martin Stephenson will swap roles as Finance Directors of Cosworth and Pi respectively. This will not be fully in place until early in 2004 and they will work together in the interim. Graeme and Martin already have a close working relationship, built up over a number of years and the move will bring a fresh approach to each business, as well as helping the two Companies work together in the future.

"Cosworth has a long tradition of being the absolute best in terms of mechanical engineering achievement," added Purnell. "The new appointments are in line with this tradition, and are the start of a road map to keep the Company at the forefront in its field."

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