14/09/2005
NEWS STORY
As widely predicted, Hewlett-Packard (HP) is to end its sponsorship of the BMW WilliamsF1 Team at the end of the season.
In an official statement issued today, Cathy Lyons, the company's executive vice-president and chief marketing officer, said: "We have met our objectives and it is a natural moment for HP to conclude our relationship. We wish them all the best as they go in a new direction next season."
Only yesterday, HP revealed that it was shedding almost a thousand jobs in the UK, as part of a global effort to reduce its workforce by at least six thousand.
The partnership first began in 2000, when Compaq agreed a sponsorship deal with WilliamsF1, subsequently Compaq merged with Hewlett-Packard.