Toto Wolf and Niki Lauda have extended their contracts with Mercedes until 2020.

Wolf holds 30% stake of the Mercedes F1 team, while Lauda holds 10%.

Dieter Zetsche says, “It’s great news that Toto and Niki have extended their agreements. In 2013, we restructured the management of the Team with the clear goal of improving our performance. Since then, however, the results have exceeded our expectations.  A key factor in this success has been the combination of Toto’s entrepreneurial skills and Niki’s experience. Their renewed commitment gives our programme important continuity for the next four years.”

Wolf remains as Mercedes executive director with Lauda remaining as non-executive chairman.