Silverstone Circuits boss Richard Phillips has been suspended from duty as track owners the British Racing Drivers’ Club re-structure internal operations in an effort to cut costs and put the business back on a profitable footing.
The firm, who have said that Phillips’ suspension is co-incidental to the new plans, want to concentrate on their core operations and the running of their Formula One cash cow.
“The BRDC, who own SCL, are taking a closer role in the running of the Silverstone business, with a new operating structure between the Club and the circuit. John Grant, Chairman of the BRDC, and Lawrence Tomlinson, Director of the BRDC, have assumed the role of Joint Acting Chief Executive of SCL,” said a BRDC statement issued to bikesportnews.com.
“Having reviewed the Silverstone business, they have embarked on an exciting programme of restructuring to make the business more streamlined, concentrating on their core competencies as a circuit operator and the home of the British Grand Prix.
“While we cannot comment on the suspension of senior executives at SCL, it should be noted that this is only coincidental to restructure.”