The statement added: "This follows a decision by the majority shareholders to place him on gardening leave." Dennis, the 69-year-old who has been involved with Mc Laren since 1980, appeared at the High Court in London on Friday in a bid to prevent the team's board from placing him on gardening leave until his contract was due to expire in January.
Dennis, whose statement detailed that he remains a "significant" shareholder in MTG and Mc Laren Automotive Ltd, expressed his disappointment at the manner of his departure from the key roles he held.
It is curvilinear and partly subterranean, and the lake is itself an integral part of the structure’s sophisticated cooling system.
It was designed by Norman Foster & Partners; but you know that Ron involved himself closely in every stage, from initial concept to final completion.
Racing legend Ron Dennis is selling his stake in Mc Laren Automotive and Mc Laren Technology Group and will step down as chairman after 37 years with the racing team and the company.
His exit as chairman follows his departure from the post of CEO at Mc Laren Technology, with Shaikh Mohammed bin Essa Al Khalifa taking over the role of chairman of the two arms of the company.
I followed his fortunes as he moved into Mc Laren, made it his team, persuaded the best drivers in the world to drive for him and the best designers in the world to design his cars, and started to win Grands Prix and World Championships at a prodigious rate.
'And we would have the freedom to set the competitive tax rates and embrace the policies that would attract the world’s best companies and biggest investors to Britain.Dennis left the formal posts at Mc Laren with some harsh words for Mumtalakat and TAG, promising to continue to influence the two companies through his shares.Bernie Ecclestone has advised Ferrari to consider a familiar face if it ultimately has an open seat after the season.For this is a man who likes to immerse himself in the detail.He is a self-declared obsessive, a perfectionist who believes that every element of a business, or a car, or a building, or a race strategy, or a deal, needs to be examined, evaluated and worked on until there is final acceptance that it is no longer capable of improvement. I have known Ron, but not well, for 40 years, since he was first running his own Formula 2 team.