The historic chapter-closing move comes a fortnight after the famous Grove outfit was sold to US investment firm, Dorilton Capital.
The Grove team will continue to run under the Williams name into its new era, but will no longer be run by the family.
Sir Frank, who founded the outfit with Sir Patrick Head in 1977, has been one of the most successful team principals/owners in history with seven drivers’ and nine constructors’ championships.
Claire has been in day-to-day control since 2013 in the role of deputy team principal.
She first joined the team in an official capacity in 2002. She stated the new owners had encouraged them to continue on but they had decided it was the right time to step away, having secured the team’s future via the sale and signed the new Concorde Agreement.
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“With the future of the team now secured, this feels like the appropriate time for us to step away from the sport,” said Claire Williams.
“As a family, we have always prioritized Williams. We have demonstrated that by our recent actions with the Strategic Review process and we believe now is the right time to hand over the reins and give the new owners the opportunity to take the team into the future.
“We have been in this sport for more than four decades. We are incredibly proud of our track record and the legacy we leave behind. We have always been in it for the love of it, for the pure pleasure of going motor racing, so this is not a decision that we have taken lightly but after much reflection and as a family”.
Williams have concluded bottom of the standings in each of the past two campaigns and are the only outfit without a point so far in 2020.
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