Williams has officially confirmed that Executive Director Toto Wolff is leaving the company with immediate effect to take up a new role with Mercedes-Benz Grand Prix Ltd.

Wolff will relinquish his seat on Williams Board of Directors but will retain his shareholding. Team Principal and majority shareholder Sir Frank Williams will continue to oversee the running of the Company with Wolff's responsibilities being shared between members of the Board's Executive Committee.

"'I would like to thank Toto for his hard work, dedication and commitment to the team during his time as one of our Executive Directors," said Williams. "He was a key support to me in this role last season, deputising at a number of races when I was unable to attend.

"However, positions such as the one offered to him by Mercedes do not come around often. Toto has a long history with them and I certainly was not going to stand in the way of him accepting this once in a lifetime opportunity.

"Toto will retain his shareholding in Williams and will always have a place at Grove but make no mistake; we will fight him hard on the racetrack! I am sure he will be a strong asset for Mercedes and on behalf of the whole team I would like to wish him the best of luck in his new role. I'm lucky to have a very professional group of people around me and the Company's Executive Committee will continue the work they have been doing to ensure a successful future for the business."