Kaltenborn accepts stake with Sauber
Monisha Kaltenborn has moved a step closer to becoming the first female team principal in Formula One by accepting one third of a stake in the Sauber Group.
Sauber CEO Kaltenborn has been rewarded for her role in helping the team through a difficult period over the past few years.
Team boss and president Peter Sauber retains the remaining two thirds of the company.
Sauber said: "When BMW pulled out of Formula One in 2009, Monisha was instrumental in the team's survival and since then she has been doing outstanding work in her capacity as CEO.
"Transferring one third of the stake to her represents an important step for me in providing continuity.
"My desire is to ensure the company continues to be led as I would want over the long term.
"Monisha and my son Alex, who joined the company as marketing director in 2010, both embrace this aim.
"It means we can offer our employees a positive outlook for the future."
Accepting the stake in the team, Kaltenborn said: "For me this step is a mark of the greatest possible trust, which I will do everything in my power to justify.