Adam Parr resigns as chairman of Williams F1 team

[March 26, 2012]  GROVE, England (AP) -- Adam Parr has resigned as chairman of the Williams Formula One team.

No official reason was given for Parr's departure, which was announced in a team statement Monday.

Parr came to Williams in 2006 as chief executive officer and moved up to chairman in 2010.

Team principal Frank Williams says Parr "leaves us on good terms to pursue a better balance in his life for which I wish him and his family well."

Williams says Nick Rose, a non-executive director of Williams Grand Prix Holdings, will be appointed non-executive chairman, while Williams will continue to oversee the company.

[Associated Press]

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