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Ron Dennis vacates McLaren F1's CEO position after 35 years

McLaren's Ron Dennis, one of the biggest names in F1 history, is stepping down from his CEO position after 35 years. Dennis was told on Tuesday he must give up his position as McLaren's chairman and chief executive, reports the BBC. Dennis, who holds a 25-percent stake in McLaren, attempted to contest the shareholders' decision to put him on so-called "gardening leave" redundancy. Reports say McLaren's other owners, TAG Group CEO Mansour Ojjeh and the Bahrain-based investment fund Mumtalakat, ousted him due to being at odds with Dennis' management style. Ojjeh holds another 25-percent stake in McLaren, and Mumtalakat holds the remaining 50 percent. According to Dennis, the rest of the management team warned Ojjeh about the possible consequences of removing him from McLaren. As Dennis says, "My management style is the same as it has always been and is one that has enabled McLaren to become an automotive and technology group that has won 20 Formula 1 World Championships and grown into an GBP850m-a-year business." Due to differences in vision regarding McLaren's future, there was no other option for Dennis than to leave the company. Dennis will still retain his 25-percent stake in the company and remain on the boards of both McLaren Technology Group and McLaren Automotive. Dennis states he plans to launch a new technology investment fund as soon as his contractual commitments expire; he also pledges to "use his McLaren board seat to protect the interest of the business and its 3,500 employees." McLaren has failed to win a F1 title after Lewis Hamilton's drivers' championship eight years ago and the latest constructors' title was won in 1998, 18 years ago.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: BBC SportImage Credit: Mark Thompson via Getty Images Hirings/Firings/Layoffs Motorsports McLaren

McLaren 570S Design Editions add $10k but still make financial sense

The McLaren 570S' five new Design Edition models add just over $10,000 to the car's starting price but promise some clever packaging of styling and design features. McLaren turned to its own designers to pick out colors, trims, wheels, and other details for each Design Edition, delivering what it calls packages that make "financial sense." Now, stop laughing about a $10,000 package for a six-figure sports car making financial sense and keep reading, because we're going to explain why McLaren's right. Let's start with Design Edition 1, which is that red beauty up top. Edition 1 pairs Vermillion Red paint with diamond-cut, five-spoke alloys, a black – or "Stealth" if you insist on McLaren's silly nomenclature – exhaust finish, and red calipers, while the cabin is a mix of black Alcantara and red Nappa leather with Slate Grey contrast stitching. McLaren says that while you could get a car finished the same way, a customer would need to pick each option individually, leading to a premium of far more than the Design Edition's $10,320. In other words, think of the five Design Editions as a value package, bringing you a lot of new style at a lower price. And since McLaren doesn't call these cars a limited or special edition, the move could let the company leverage some economy of scale – building broadly similar versions of a car is, after all, cheaper than going bespoke on each new vehicle – so it's good for all parties. In addition to Vermillion Red, it's offering its Design Edition models in Onyx Black, Storm Grey, Ventura Orange, and Silica White. Dealers are accepting orders, with deliveries slated for 2017. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Leno already piling on the miles in his McLaren P1

When you have a garage like Jay Leno's – and let's face it, few in the world do – it would take something truly special to get you to either travel far away from your prized collection, or drive any one car more than the 900 others you've got at your disposal. But the 2015 McLaren P1 is just such a car. Back in September, Jay became one of the first people in the world outside the company to drive the new hybrid hypercar. And he was also the first customer to take possession of a new P1 in the United States. That was a matter of mere weeks ago, and he's already put on over a thousand miles on the odometer – 880 of those within the first five days, according to the man himself. Which is really saying something, considering all the other cars he has to choose from – among them several other McLaren models, including a Mercedes-Benz SLR McLaren, an MP4-12C and an original McLaren F1. Watch the video below to see Jay chat with McLaren CEO Mike Flewitt and see what the former talk show host has to say about one of the most capable performance machines he's ever owned – which is to say, one of the most capable performance machines ever made. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Gallery 2015 McLaren P1: First Drive View 39 Photos News Source: Jay Leno's Garage via YouTubeImage Credit: Gallery images copyright 2014 Matt Davis / AOLTip: Drizzy Celebrities McLaren Coupe Performance Videos Jay Lenos Garage mclaren p1 Mike Flewitt