Mar.2 (GMM) Sir Frank Williams has stepped down from the board of his own formula one team.

Earlier this week, the Grove based team's 69-year-old founder, major shareholder and team principal named chairman Adam Parr as his future successor.

"If for whatever reason I couldn't come in to do my job, Adam would fill the gap," he told the British magazine F1 Racing.

On Friday, a team statement read: "Sir Frank Williams, founder and team principal, announced his decision to step down from the board."

He explained: "I turn 70 in April and I have decided to signal the next stage in the gradual but inevitable process of handing over the reins to the next generation.

"This is not as dramatic a move as it may appear: I shall continue to work full-time as team principal and I shall continue to attend all board meetings as observer," added Williams.

He will also have a Williams family member on the board, as his daughter Claire steps up to be director of marketing and communications.

Frank Williams said: "I am proud to say that she has fought hard to earn this appointment and of all the battles she has had to fight, the prejudices of her father were not the least challenging."

Late last year, the team's co-founder Patrick Head also stepped down.

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