Following the recent announcement confirming the acquisition of Stewart Grand Prix by the Ford Motor Company, Paul Stewart is appointed Chief Operating Officer. This is a full time executive role responsible for running Stewart Grand Prix. Paul brings his experience of racing as well as ability to manage the new relationship with Ford.

Paul Stewart said: "I am pleased to have been appointed Chief Operating Officer and look forward to continuing to work closely with my father Jackie, who remains Chairman and Chief Executive, and with the whole Stewart-Ford team.

"These are exciting times for Stewart-Ford and great prospects lie ahead. Under Ford ownership, the team will have the resources and expertise to realise our goal of a concerted challenge for the Formula One World Championship. I am delighted by the prospect of working with the Ford Motor Company to build a successful future for the Stewart-Ford team."

Neil Ressler, Vice President and Chief Technical Officer, Research and Technology, Ford Motor Company, Chairman of Cosworth Racing and a non-executive director of Stewart Grand Prix, commented: "We are pleased with this appointment. Paul brings experience combined with a determination to win with Ford."

David Ring, who has been performing in the role of Managing Director, will be leaving the company to take up a job in industry. Paul Stewart said: "I would like to thank David for his contribution during his time with Stewart Grand Prix."