Mercedes have signed new deals with their executive director of motorsport, Toto Wolff, and the team’s non-executive chairman, Niki Lauda, to retain the pair until 2020, confirming the stability of the team up until the end of the manufacturer’s current commitment to Formula One, which runs until 2020 – when the current commercial arrangement with Formula One Management concludes.

The team will launch their new car for the season on Thursday at Silverstone and retaining the long-standing presence of Wolff and Lauda at the top of the organisation as they face a new formula this season and readjust after the departures of Nico Rosberg and Paddy Lowe over the winter will help ease the transition.

The three-times world champion Lauda, who owns a 10% share in the team, got to Mercedes at the end of 2012 and was joined just before the opening of the 2013 season by Wolff, who has a 30% stake, after the departure of Ross Brawn. They have overseen a remarkable period of dominance, with the marque winning all three drivers’ and constructors’ championships since 2014, with Lewis Hamilton taking two of the former.

“The last few years have been some of the most enjoyable I have had in Formula One,” said Lauda. “Toto and I formed a perfect partnership at Mercedes and we have a great team on every level that has delivered results. I must thank Dieter [Zetsche, chairman and CEO of Daimler AG – the team’s majority shareholder] and the other members of the board of Daimler for renewing their confidence in us.”

Rosberg, who won the championship last year and then retired has been replaced by Williams’ Valtteri Bottas, while Lowe, who is set to join Williams for 2017, has been replaced by the former Ferrari technical director James Allison.

“In 2013, we restructured the management of the team with the clear goal of improving our performance,” Zetsche said. “Since then, however, the results have exceeded our expectations. A key factor in this success has been the combination of Toto’s entrepreneurial skills and Niki’s experience. Their renewed commitment gives our programme important continuity for the next four years.”

Wolff, who is effectively the team principal, was insistent it had been a collective effort. “Winning is never down to single individuals,” he said. “It is about the right group of people coming together, aligning themselves with a common objective and then combining their talents to achieve that target. Each day I come to the factory, I am humbled to have the privilege of representing this inspiring group of people.”