Power Shift at Red Bull F1 Following Horner’s Exit
In a significant shakeup within the Red Bull Racing hierarchy, team principal Christian Horner has been relieved of his operational duties as part of a broader shift in company control following the death of co-founder Dietrich Mateschitz. The transition includes a documented transfer of a 2% stake in Red Bull GmbH from Chalerm Yoovidhya to Fides Trustees SA, raising questions about the implications for both leadership and company direction.
Key filings in the Austrian company register, dated May 28 and May 31, indicate a formal change in ownership structure. Chalerm Yoovidhya’s elevation of his stakes appears strategic amid shifting dynamics, enhancing the role of a Swiss trust company renowned for managing wealth.
The long-standing dominance of Yoovidhya’s family at Red Bull is under scrutiny, especially in light of recent reports suggesting internal conflicts prompted Horner’s departure. While the company confirmed the share transfer, it refrained from commenting on the implications. Red Bull’s response highlighted the use of fiduciary structures to ensure continuity, implying that Yoovidhya might still retain influence notwithstanding the transfer.
The termination of Horner’s contract—which reportedly runs through 2030—could weigh heavily on the company’s finances. In 2023, he was potentially the highest-paid director across several Red Bull subsidiaries, with an estimated cumulative salary of £20.6 million. Horner has reiterated that he will remain with the company, but speculation surrounds the nature and timeline of his continued employment.
The internal power balance seems to have shifted from a primarily Austrian control to an increased influence from the Thai ownership. Despite Horner’s earlier strong position, events over the past eighteen months signal a broader dissatisfaction within Red Bull’s Austrian management, culminating in decisive actions from the new managing directors, including Oliver Mintzlaff.
As Red Bull navigates this leadership transition, the underlying control dynamics remain unclear. Analysts posit that both sides—the Yoovidhya family and the Austrian management—are likely to impact future strategic directions as the company aims to maintain its competitive edge in Formula 1.
