Ron Dennis CBE has reached agreement with his fellow shareholders in McLaren Automotive and the McLaren Technology Group to sell his shareholding in both companies.

Ron celebrated his 70th birthday on 1 June, after 37 years at the helm of McLaren, and 51 years spent working in Formula 1 and other top-level motorsport series.

During his 37 years at McLaren, Ron led the team to 158 Grand Prix wins and 17 Formula 1 World Championships, managing some of the greatest drivers in the history of motorsport (including Niki Lauda, Alain Prost, Ayrton Senna, Mika Hakkinen and Lewis Hamilton, who all won World Championships under Ron’s management) as well as the world-renowned Le Mans 24 Hours race in 1995.

In 2004 Ron announced the launch of McLaren Applied Technologies, which focuses on applying motorsport-bred innovations and technologies so as to improve the performance and product innovation of blue-chip companies in a wide variety of industries.

In 2010 he oversaw the formation of McLaren Automotive, now one of the world’s leading manufacturers of high-performance sports cars.

On 18 December 1980, Ron merged Team McLaren (as it was then known) with his own company, Project Four, to form McLaren International, then valued at £3 million. Fewer than 100 people were employed by the new company at that time. In the 37 years since then, supported by the investment of TAG Group in 1984, Ron has presided over a period of remarkable and prodigious growth. The McLaren Group is today valued at £2.4 billion, had a combined turnover in 2016 of £898 million, and now employs more than 3400 people.