McLaren chief executive Ron Dennis' future in doubt

 
William Turvill
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Ron Dennis owns 25 per cent of McLaren Technology Group (Source: Getty)

The future of Ron Dennis, the chief executive of McLaren, is in doubt this weekend.

Dennis reportedly presented a £1.65bn takeover bid for the company last week.

Sky News first reported that this led to fellow shareholders launching a plot to oust him from the company.

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Dennis then failed on Thursday and Friday in a bid to secure a High Court injunction against a move to place him on gardening leave until his contract expires in January.

This failed attempt reportedly led to an emergency board meeting last night, which is expected to lead to the suspension of Dennis.

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Dennis owns 25 per cent of McLaren Technology Group.

Mansour Ojjeh, a long-term business partner who owns 25 per cent also, and Bahraini sovereign wealth fund Mumtalakat, which owns 50 per cent, see the Chinese bid as undesirable and want Dennis to stand down, Sky News reported.

McLaren has been asked for comment.

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