Ron Dennis Ends His Association With McLaren; End Of An Era

Ron Dennis who was team principal of McLaren Formula One team from 1981 to 2009 was ousted as McLaren chief executive in November 2016. He continued to be a director with 25 percent stake in the company.

Now, he will step down from his current role at the brand and sell his shares, ending a famous career of 37-year with the racing outfit.

McLaren, valued at 2.4 billion pounds ($3 billion), have not won a Grand Prix since 2012 and are last in the 10-team championship this year after boarding on a shaky partnership with their former engine supplier Honda.

McLaren, owned primarily by Bahrain's Mumtalakat Holding Company and TAG Group, a firm led by Saudi-born businessman Mansour Ojjeh, will purchase Dennis's shares but admitted that the brand needs to undergo a turnaround.

"McLaren Racing...is not currently achieving the on-track success in Formula One that we know it is capable of, and that it has achieved in the past, but that will change," Ojjeh said on Friday.

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Ron Dennis has been at the forefront of McLaren's history and will continue to be remembered for his contribution. Most remembered will be his association with the famous Ayrton Senna when the due took back-to-back titles in 1990 and 1991.