On Wednesday morning, news broke that Red Bull has dismissed Christian Horner as team boss. Although there had been internal tensions within the Austrian team for some time, the news came somewhat unexpectedly. However, multiple sources are now reporting that Horner’s sudden departure may be related to changes in the ownership structure of Red Bull’s parent company.
Documents filed in Austria reveal, as reported by PlanetF1, that Chalerm Yoovidhya, Thai billionaire and co-owner of Red Bull GmbH, has terminated his personal shareholding in Red Bull. This has changed the company’s ownership structure last month. Yoovidhya was the majority shareholder of Red Bull, but according to documents from the Regional Court of Salzburg, Yoovidhya’s personal two percent stake has been removed and transferred to Fides Trustrees SA, an independent Swiss trust company.
As a result, for the first time in the history of Red Bull GmbH, the Yoovidhya family is no longer a major shareholder. It is generally believed that the Yoovidhya family’s majority stake in Red Bull contributed to Christian Horner retaining his job last year. The Brit was under fire at the time, following allegations of inappropriate behavior towards a female employee. Horner was later acquitted.
Loss of Protection
While the Austrian part of the company, under Mark Mateschitz, had already withdrawn support for Horner, the Thai side continued to stand behind Horner. This allowed the Brit to stay on. The change in the ownership structure at the Austrian company may have led to a new decision about Horner’s future, and, because Yoovidhya was no longer a major shareholder, the Brit lost his protection this time.
