Carlos Ghosn, the boss of the Renault company says that Renault is back in F1 because “racing is an important part of our heritage” but primarily it is to boost awareness of the company, its brand and its technologies in new markets, notably China. The company has restructured its entire sporting departments with the Renault Sport performance range of products being separated from the actual competition activities. Ghosn says he wants the F1 team fighting for victories within two or three years.
The team will be led by Racing Director Frederic Vasseur and Chief Technical Officer Bob Bell, reporting to CEO Cyril Abiteboul and President Jerome Stoll.
The team has backing from Total, EMC, Microsoft, Jack&Jones and Infiniti.