Jeddah, Saudi Arabia, March 18, 2023. Mercedes GP Executive Director Toto Wolff walks in the paddock ahead of the final practice session ahead of the F1 Saudi Arabia Grand Prix at the Jeddah Corniche, March 18, 2023.
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Mercedes-AMG Petronas F1 team principal and chief executive Toto Wolff says he would rather give up the world title than his values or any success will be short-lived of.
Speaking at the Asia Energy Conference in Kuala Lumpur, the Malaysian capital, Wolf likened the company’s team culture to any company’s “immune system” and emphasized the importance of two values: honesty and loyalty.
“I would give up the world title any day of the week to keep my integrity. I think that’s how we operate,” he told the event hosted by Petronas, adding that it was a win-at-all-costs philosophy Should no longer exist.
“We need to have a certain level of loyalty and integrity. If you don’t have that, your success will be short-lived.” Wolf notes, however, that there are organizations and sports teams that “don’t have that” and still achieve success.
To me, the concept of being a control freak is: knowing everything that’s going on, but not interfering with what’s going on.
this is wolf
Mercedes F1 Team Principal
“When you win, don’t have any sense of entitlement … Respect, don’t think it’s going to last forever. Be humble about it.”
Mercedes’ current ranking Second in the F1 constructors’ standings this year Close behind Red Bull so far. The ranking measures team performance based on the points accumulated by each team’s two drivers. Mercedes drivers Lewis Hamilton and George Russell are currently fourth and seventh in the standings. driver rankingrespectively.
From 2014 to 2021, Mercedes won eight consecutive constructors’ championships. The 2021 Abu Dhabi Grand Prix saw Red Bull Racing’s Max Verstappen claim his seventh straight driver’s title before a controversial victory.
“Control freak” leader?
When the team principal was asked about his preferred method of solving the problem, Wolff said matter-of-factly: “I’m in charge of recruitment and development, and developing the right people. So I should be empowering.”
Wolf admits that most people’s instinct is to place the blame on someone.
“[But]in most cases it’s the process that fails, not the people…I think it’s really important to remind yourself…We blame the problem, we don’t blame the people.”
Mercedes drivers Lewis Hamilton (right) and George Russell (left) are currently fourth and seventh respectively in the 2023 drivers’ championship.
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Additionally, Wolf said leaders should be selective and know when to intervene.
“One of my experiences is that people who run organizations are in a way control freaks, and it’s hard to let go,” Wolf said.
“So for me, the concept of being a control freak is: knowing everything that’s going on, but not interfering with everything that’s going on … and having the right balance.”
The balance, Wolf admits, is not easy.
“I’m an emotional person and I’m passionate about the sport,” he said.
Wolff first entered the world of motorsports as a teenager, but eventually had to turn to venture capital.
“When I finish school, I want to be a racing driver. But obviously it’s a sport I can’t afford,” Wolff shared with the audience.
Lewis Hamilton celebrates winning his 100th Grand Prix on September 26, 2021 at the Sochi Circuit of the Russian F1 Grand Prix in Sochi, Russia.
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In a fortuitous turn of events, venture capital brought him back to motorsport when he bought shares in Williams and eventually became the team’s executive director. He then left Williams in 2013 to become head of motorsport at Mercedes.
Ten years on, Wolf says he spends every day thinking about how to improve. He says it’s a quality he shares with Hamilton and one that he values very much as a driver.
“He’s someone who is looking for personal improvement every day, whether it’s on the track, in the car or off the track,” he mused.
“Never take yourself too seriously…it keeps you humble. Never stop learning.”
management superstar
When it comes to managing his team and how to get the most out of them, Wolff stresses the importance of not giving drivers special treatment compared to the rest of the team.
“I really enjoy interacting with high performers, superstars. I have 2,500 of them. I make no distinction between drivers and the rest of the company,” he said.
“If you can channel that in the right way, you have an organization and a successful team. A superstar team rather than a superstar team,” he said.
“I think I stole that line from an Instagram post.”