Williams Grand Prix Holdings has announced that Mike O'Driscoll will become its Group CEO with effect from today.

O'Driscoll, formerly Managing Director of Jaguar Cars (2007 - 2011) and ex-President of Aston Martin Jaguar Land Rover in North America (2001 - 2007), has been appointed Group CEO to guide the long term future of Williams.

The newly created role will see the Williams F1 Team and Williams Advanced Engineering united under one management structure and will enable O'Driscoll to provide support to Sir Frank Williams and to work in partnership with Claire Williams, Deputy Team Principal.

O'Driscoll will lead the Executive Committee who will report to him and in turn he will report to Sir Frank Williams and the Williams Grand Prix Holdings board.

Alex Burns, previously Chief Executive Officer of Williams Grand Prix Holdings PLC, will leave the company with immediate effect.

"Mike has been a valued member of our Board since 2011 as a Non-Executive Director and I am delighted that his day to day involvement in the company is to significantly increase," said Frank Williams. "This new role strengthens the company and will help us achieve our goals both on the race track and in diversification. Mike brings with him significant skills and a wealth of experience. Working with Claire, I am in no doubt that the future of Williams is in safe hands."

"Today's announcement is not only great news for the company, but is further evidence of the execution of our long term strategy for business success," added Claire Williams. "Mike brings with him a unique mix of skills and capabilities and he is a passionate motorsport enthusiast with significant automotive industry experience. I have every confidence that he can drive the business forward to deliver an improved performance for both the Williams F1 Team and Williams Advanced Engineering."

"I am honoured that the Board has entrusted me with the position of Group CEO," said O'Driscoll. "I have been proud to serve as a Non-Executive Director since 2011 and in my new role, I am very much looking forward to helping Sir Frank and Claire achieve the ambitious goals we have set ourselves."