Markus Schafer and Frank Markus Weber have joined as board members of Mercedes-Benz Grand Prix Ltd, following two departures.

Ola Kallenius has stepped down after assuming the role of chairman of the board of Daimler AG, Mercedes’ parent company, while Bodo Uebber has left his position as Daimler’s chief financial officer. The duo stepped down from the board on May 22 this year.

A board meeting in Stuttgart last week nominated Schafer, Daimler board member “responsible for group research and Mercedes-Benz cars development”, as its non-executive chairman.

Three-time F1 world champion Lauda previously performed the non-executive chairman role but passed away in May.

The same month, long-time racing supporter Dieter Zetsche stepped down from his role as chairman of the board of management of Daimler AG and head of Mercedes-Benz cars, to be replaced by Kallenius.

Schafer has been a non-executive director of Mercedes GP since March 11.

Daimler’s vice-president of corporate development Weber was appointed as a non-executive director of Mercedes GP with immediate effect at the same board meeting.

They join Mercedes F1 team principal Toto Wolff, Britta Seeger and Rene Berger on the board.

Wolff said: "The commitment of our parent company has been fundamental to the team's success and will continue to be so in the years ahead.

“This support for Formula 1 has always been reflected in our team's board, with strong representation from Daimler's senior leadership, and it continues through the appointments of Markus and Frank Markus for the years ahead.

“Formula 1 is a powerful technology and marketing platform for Mercedes-Benz globally, and a valuable shop window for the company's values and its competitiveness."

New non-executive chairman Schafer added: "Mercedes-Benz is a driving force in the transformation to emission-free mobility.

“To maintain personal mobility, cutting-edge technology is required to push boundaries and redefine standards, and this can only be achieved by focusing on a shared goal and through fantastic team spirit.

“Our learnings from the exciting world of Formula 1 have brought us valuable and inspiring synergies, and I am looking forward to build upon that close cooperation."