Wolff, Lauda renew deals at F1 champion Mercedes

BRACKLEY, England - Two leading officials at Formula One team Mercedes have signed new contracts through 2020, concluding a busy offseason of activity at the world champions.

Mercedes announced Monday that Toto Wolff, the head of motorsport, and Niki Lauda, the non-executive chairman, have renewed their deals.

Wolff joined Mercedes from Williams in February 2013 and owns 30 percent of shares in the team. Niki Lauda began working with Mercedes in late 2012 and holds a 10 percent stake.

Since winning a third straight constructors' title last year, Mercedes has seen executive director Paddy Lowe announce his departure to join Williams and world champion driver Nico Rosberg retire and replaced by Valtteri Bottas.