We are all delighted to welcome Vitaly into our team and are very excited about the role he will play in helping us take the next steps forward in 2012 and for many years to come. When we first met it was immediately clear that Vitaly understands and shares our vision for how we want our team to grow. As the first Russian to race in F1 he carries the hopes of a huge nation with ease and his talents, experience with one of our current competitors and insights on and off track will play a huge role in our development as we fight to join the established teams ahead.

I also want to take this opportunity to thank Jarno for the absolutely pivotal role he played in the formation and progression of our team since he joined us in December 2009. Jarno knew that when he joined us it would be a very different environment to where he had been before, and when we gave him the package he wanted he absolutely shone. With that in mind it was not an easy decision to bring Vitaly in to replace Jarno, but it was one we made to ensure that we give fresh impetus across the whole team and with a realistic eye on the global economic market. Jarno has an incredible natural talent behind the wheel, and his winning record and longevity in the sport will bear testament to that talent in the Formula 1 annals forever, but now it is time to open a new chapter in our team’s story, and Vitaly is the right person to help us do that.

We have reached agreement with Jarno to bring an end to our partnership with him, but he will always be part of our family. Now we want to integrate Vitaly as quickly as possible into the team, and we will do everything we can to welcome him in, give him a car he can use to showcase his skills, and keep up the rate of development that has seen us go from an empty factory with just four employees to a fully established Formula 1 team in just over two years.