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Gascoyne promoted to group CTO

ESPNF1 Staff
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Mike Gascoyne will still attend races in his new role © Sutton Images
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Mike Gascoyne has been promoted to chief technical officer of the Caterham group, with technical director Mark Smith taking on more responsibility with the Formula One team.

Gascoyne has been CTO at Caterham since the team's inception and debut as Lotus Racing in 2009. After Tony Fernandes purchased Caterham cars the group has continued to expand, with Caterham Composites and Caterham Technology and Innovation being added to the F1 and GP2 outfits. Gascoyne has now been promoted with a team press release stating he 'will now be responsible for proposing, supporting and coordinating key technical initiatives' within the group.

Gascoyne said that he was excited by the opportunities his new role would offer, and added that Smith was the ideal candidate to take on further responsibility with the F1 team.

"This is a very proud moment for me. Tony, Kamarudin, Nasa and Riad have established Caterham Group as a serious force for future development in a number of very exciting sectors," he said. "My new role will now give me the chance to help drive value across the whole group through the creation and delivery of new projects in all the sectors we are already working in, and opening up new opportunities for each of the Group's companies to embrace.

"Mark Smith is exactly the right person to step up to the broader role he will now be taking on in the F1 team, and I am looking forward to working even more closely with Mark Edwards at Caterham Technology & Innovation, Phil Hall at Caterham Composites and Ansar Ali at Caterham Cars. This is a big challenge but one I am extremely excited about and I want to thank our shareholders for this opportunity."

Group chairman Fernandes added his support for Gascoyne in his new role.

"We are all delighted that Mike has taken up the challenge we have presented him, to lead technical direction across the whole Caterham Group," Fernandes said. "His experience, knowledge, enthusiasm and creativity give him the perfect skill set to help us achieve the ambitious goals we have set for all the group companies, and I know Mike is excited about what lies ahead."