Indian-born CEO Monisha receives one-third stake in the Sauber Group

Hinwil, 16 May 2012: In a major announcement, Peter Sauber said that he has taken a decision in the interests of continuity, to transfer a third of the stake in the Sauber Group to Dehradun-born Monisha Kaltenborn (formerly Narang). Kaltenborn. Peter Sauber, the Team Principal and President of the Board of Directors of all Sauber Group companies, will retain the remaining two thirds, according to Press Release by Sauber F1 team today.

“When BMW pulled out of Formula One in 2009, Monisha Kaltenborn was instrumental in the team’s survival and since then she has been doing outstanding work in her capacity as CEO,” says Peter Sauber.

“Transferring one third of the stake to her represents an important step for me in providing continuity. My desire is to ensure that the company continues to be led as I would want over the long term. Monisha Kaltenborn and my son Alex, who joined the company as Marketing Director in 2010 and has since also been a member of the Board of Management, both embrace this aim. It means we can offer our employees a positive outlook for the future.”

CEO Monisha Kaltenborn adds: “For me this step is a mark of the greatest possible trust, which I will do everything in my power to justify.”

Monisha, who completed 41 last Thursday, lives with her two children in Kusnacht, near the Sauber factory in Switzerland, when she is not globe-trotting with the F1 bandwagon.

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