LONDON (Reuters) - Paddy Lowe has joined the Williams Formula One team from champions Mercedes with immediate effect as chief technical officer and shareholder in the group, Williams announced on Thursday.
The team did not say how big a stake Lowe had taken, with the details expected to be made known at a later date.
The Briton, who started his Formula One career at Williams, also joins the board of directors and will run the business with deputy principal Claire Williams and chief executive Mike O'Driscoll.
"It is a huge honour to return in this leadership position and to have the opportunity to become a shareholder. I am extremely motivated to play my part in bringing success back to the team," Lowe said in the statement.
(Reporting by Alan Baldwin, editing by Sudipto Ganguly)