John Grant was elected to replace Stuart Rolt as Chairman of the British Racing Drivers' Club (BRDC) at the Club's Annual General Meeting (AGM) on Friday. Having served the maximum nine-year term for a director, including two three-year stints as Chairman, Stuart Rolt has stepped down from his role on the board.

New Chairman, Grant is known within motor sport for his previous role as Chairman of the MSA, which led to him becoming the UK member of the FIA World Motor Sports Council. He was also a board member of the RAC.

As a competitor, he has mainly enjoyed success racing historics, plus a class win at the Nurburgring 24 hours. His professional background includes 25 years with Ford, where he became head of corporate strategy in the US, and then No. 2 at Jaguar after it was purchased by Ford in 1990. John later joined Lucas as CFO, before becoming CEO of a £300m quoted conglomerate. This gradually evolved into a portfolio of non-executive directorships in a wide range of businesses.

"I am delighted that John Grant has been elected as BRDC Chairman," said Derek Warwick, President of the BRDC. "He has considerable experience and enthusiasm for our sport, which will be key as the BRDC reverts to being the most prestigious racing drivers' Club in the world, nurturing future British motor racing talent."

Warwick also paid tribute to Rolt and the support that both he and the BRDC board received at the Club's AGM: "I cannot speak highly enough of Stuart and his commitment to the Club during his time as BRDC Chairman. The focus during his second term has been the search for investment, to help realise the full potential of Silverstone. We owe him an immense debt of gratitude for the time and energy he has put into this.

"It is a shame that his nine years as a director ends before we are able to announce details of a second investor in Silverstone. We have, however, asked Stuart to remain involved in the investment process, acting as an advisor to the board while the second deal is completed. He should feel proud of everything that he and the BRDC board have achieved over the last three years. The overwhelming support for both Stuart and the board at the recent AGM is testament to how united the Club is and how pleased we are with what he and the board have achieved."

Existing director, Jonathan Baker, was re-elected to the BRDC board at the AGM.