FORMULA I MEDIA CONFERENCE

April 7, 2005

Gil de Ferran

GIL de FERRAN: Hello, everyone. This is Gil de Ferran. Like Nick said, you probably read the printed material. I will reflect very much that. That is an amazing opportunity for me to develop my life and my career. This type of role is definitely something that I had in mind, I was trying to get into when I retired from driving. It's all coming at the right time. Obviously, I'll be leaving my friends and colleagues here in the United States that I made over the last 10 years with a high degree of sadness, but I won't lose touch completely with everyone. But certainly looking forward to start everything on Monday. It's going to be a huge challenge for me. Onwards and upwards.

GIL de FERRAN: Well, Roger has not only been my boss in the past, but a friend and also somebody I bounced ideas to and from. He remained so even after I stopped driving in the end of 2003. I spoke to him regularly. This is one thing that we did talk. He's encouraged me to put my teeth into things that are in my heart. That's certainly one of them.

GIL de FERRAN: No, I did not. You know, Penske Racing, my role there as a driver lasted for four years. I had great relationship with them. I did not seek any other position with them. I guess in a way I had a unique view on how they operated. To me they were in very, very good shape.

GIL de FERRAN: Absolutely. I mean, certainly one of the things I've learned over this last year or so is that I am a racer at heart. I miss the competition side. When I stopped racing, I didn't want to leave the sport completely. Over the last year or so, my competitive juices kept flowing. That didn't mean that I wanted to get back driving. So I think this role answers all my emotional and intellectual needs.

GIL de FERRAN: Well, my interest in racing was very broad from the day I started. I mean, obviously I love driving, I love competing, but I also love the machines. Even when my interest in driving was waning during the last year and eventually led to my retirement from that side of the sport, my interest in everything else remained high. I guess over the years I accumulated different experiences, both behind the wheel and in other parts of motorsports, you know, including the technical part. Hopefully, as time goes on, I'll be able to contribute more and more to the team. But my main role is more sporting related or racing related and I suppose in a way less technical.

GIL de FERRAN: Well, I'm sure there are many nuances about the Formula 1 race team that I don't know about. Therein lies some of the challenges that I speak of. But on the other hand, you know, I feel like I accumulated all the experience I can over the years. This type of role is definitely something I wanted to do. I feel ready for it. I mean, I guess time will tell how successful I will be.

GIL de FERRAN: Well, I guess I am. Taking this role entails moving to England. Obviously, I lived in the UK before, for seven years of my life. I'm looking forward to that in a way, but in a way I'll definitely miss my home here in the US.

GIL de FERRAN: I won't tell you what the weather looks like here.

NICK FRY: Yeah, I think it's all part of -- you know, it's like building, you know, a wall or something: it's bit by bit. We have struggled obviously with some technical issues, but it looks like we're getting to the bottom of those. The appointment of Gil is really a long-term appointment. Clearly Gil has got to get himself up to speed, which frankly I don't think will take too long. But we're doing this to get the right blend of people to eventually win the World Championship. I don't think that Gil is going to change things immediately, but I'm sure he will have significant impact in the medium and longer term.

NICK FRY: Yeah, I'm still completely confident that we can achieve our aim of winning a race or maybe even better than that this year. Clearly the start has been a little bit disappointing for various reasons. We're on top of the issues. We know exactly what we wanted to do. Yesterday and today we've been testing some new aero bits. It looks very positive. We have another day of testing tomorrow, then Gil will be with us testing at Paul Ricard in France for a couple days next week. I think by the time we get to Imola, we are going to be in good shape and hopefully be able to provide Jenson the service he needs to be able to do better and eventually win this year.

NICK FRY: Oh, absolutely. Jenson really is part of this team. He's fully aware of everything that goes on. We keep him completely involved in everything. He's been in racing a long time, so he knows that sometimes it gets a bit tough. We've always said that we'll provide him with the equipment he needs and anything that we can identify which will help the team and Jenson meet his needs is done. It really is all hands to the pumps.

NICK FRY: Well, obviously race car drivers want to be in the best car. It's our job to give Jenson the best car. That's our job and we're clearly focused on doing that. Clearly our aim is to keep Jenson for as long as we possibly can. If he can be with us for the rest of his career, that would please us immensely.

NICK FRY: Yeah, it is part of a strategy. Gil and I have been talking since before Christmas. I very deliberately called myself chief executive in that I don't try and compete as team principal. I'm trying to be in charge of the company. I've got a range of skills that allows me to run companies, racing teams and otherwise. Geoff Willis is a great technical director and has got the range of skills to design and develop great cars. The third part of the jigsaw puzzle is a great racer. I think we've got someone who is going to be sitting on the pit wall that, in fact, is going to be the match or can better everyone else sitting along there.

GIL de FERRAN: Absolutely. Yeah, we'll continue to tweak. As I say, this is no holds barred. We will do what it takes to win. Gil is another critical part of the jigsaw puzzle.

NICK FRY: Oh, I think so. I think everyone, including Renault, are very conscious that the season is incredibly long this year. While I wouldn't underestimate anyone, I think with the amount of testing that Ferrari are now doing since they have chosen to do their own thing, go against the rest of us and even the Suzuka agreement, is allowing them to catch up pretty fast. I would think Ferrari are going to be back on it in two or three races at the latest. I think McLaren will improve. I'm sure we're going to improve. It is going to be very tough. Alonso is far from home and dry.

GIL de FERRAN: In a way it doesn't. You know, I know Bobby for several years. I think there are situations and situations, and different people. I mean, all I can tell you really is that, you know, the people that I have dealt with so far, which have been primarily or should I say mostly Nick, and I had conversations also with Geoff Willis, it's been - how can I say - a wonderful courting period. I feel very comfortable, you know. I clearly understand what I have to do. It seems to me that the role that I am fulfilling is also different from the role that Bobby Rahal was trying to fulfill at Jaguar. I'm also comfortable with the fact that the jury is out. It out for everyone. It's always been out. It's always going to be out. The only way to know that is to do your job well and hopefully deliver the right results.

GIL de FERRAN: Well, in a way, like Roger Penske and other people that I know, Jackie has been somebody that I turn to whenever I have big decisions to make over, my God, since the early '90s really. The Stewart family really have been my friends since I drove for them back then. Certainly I met Nick through Jackie back in the '90s, still when we're all doing different things. When this came about, I seeked Jackie's advice.

NICK FRY: It was the same on our side, as well. As Gil says, we've known each other on and off for a large number of years. I know Jackie pretty well. He was a non-exec of Aston Martin when I was marching director. From our side, there were a number of discussions with Jackie about Gil's personality, how it would fit the job. I think Jackie can take credit or otherwise for this arrangement. He's very much been working on both sides and is incredibly supportive of Gil, myself, the proposal we're going forward with.

GIL de FERRAN: My first task is going to be doing a lot of observing and listening. I think the worst thing I could do is disrupt a good thing in the short-term. Obviously, BAR Honda finished second in the championship last year with mostly the same people, and a very similar group to what you find there today. Like Nick said earlier, I have to find my feet first. So in the short-term, my plan is to really observe, take a lot of new information in, and hopefully over time my contribution will increase. That's really my plan. My immediate plan is to go to England on this Sunday and in the middle of the week be in Paul Ricard car test which will be my first test.

GIL de FERRAN: Well, I answered part of your question already, but not the whole of it. I guess I did not talk to Bobby Rahal since all this came about. I will try to repeat my previous answer. It's basically, you know, this is a different role from what Bobby was playing at Jaguar. I mean, there are different people involved, different companies involved. In a way I'm a different person than Bobby. Certainly I understand this will be an enormous challenge for me. However, you know, I'm ready for it. It's something I really want to do. I've gained a lot of experience from my racing life. Of course, the jury is still out, but it's out for everyone. I look forward to the challenge and I'm ready for it.

GIL de FERRAN: Well, I hope so. I think I understand my role very clearly. I think in the end of the day, once the green flag flies, or shall I say the green light goes, that's all that matters. I think that in the past I've done a good job in being able to focus on the job at hand and not really get too distracted about other things that are not essential to the results in competition. I hope I'll be able to do the same in my new role.

GIL de FERRAN: Well, I think the sport of racing, and Formula 1 also, has been evolving and been through many, many different phases over its history. My understanding is that my role is clear in my mind. You know, it's to try to win any competition or to succeed in any competition that we enter, find out what's the best way to gain an advantage and have an edge. Nothing changes. I think did that as a driver and I will try to continue to do that in my new role, whatever the competition is, whatever the rules are.

GIL de FERRAN: Well, in a way, like I said earlier, my initial task is really to land over there and get a lay of the land, listen and learn. Also, like Nick mentioned, it's going to be a very accelerated process. That's really my initial plan, to do that, and really not to disrupt the workings of what I believe is essentially a very good operation.

GIL de FERRAN: I met Jenson in the past.

GIL de FERRAN: We did. Mostly socially. I liked him a lot. He seemed like a really nice guy. No errors in graces about him, just a guy that loves racing. Just a nice guy. My son liked him a lot, so that must be a good sign.

GIL de FERRAN: Absolutely. I see Jenson as certainly one of the best drivers in the world today, I think somebody that has obviously not only the potential to win races but to win a World Championship. I think he's a great asset to BAR Honda. I'm very much looking forward to working with Jenson.

GIL de FERRAN: Well, I don't think he needs to do much. I think his performance has been incredible. For you to win races, a lot of things have to come right all at the same time. I think it's a job for the whole team, including him evidently, to try to make that happen.

GIL de FERRAN: Well, my first job is I guess to get to know him better. That's primarily why I'm going to Paul Ricard, immediately to get to know the team better, to get to know him better. I intend to spend a lot of time with not only Jenson but Takuma and all the test drivers, to get to know them better. I don't think you can be effective if you don't understand deeply the people you're working with.

GIL de FERRAN: I'll be doing whatever I need to do to get to know him better.

GIL de FERRAN: Well, I don't think so (laughter). You know, I had a lot of fulfillment in my driving career, especially in my last stint with Team Penske where I was able to win many races and championships, and especially the Indy 500. I finished my career in the end of '03 very satisfied, happy with what had happened, not really bitter about anything. I was just happy the way my life had developed up until that point. As far as Formula 1 goes, I have always had a fascination with Formula 1, ever since I watched Emerson Fittipaldi battling Jackie Stewart in the early '70s as a kid. I grew up watching Formula 1. I always loved Formula 1. When I went to Europe, I wanted to be a Formula 1 driver. My road took me a different way, but just as fulfilling. I think my doing what I'm doing really has not much to do with any sort of unfinished business that I had in the past. For me it's a new avenue and it's a great opportunity for me to grow really.

GIL de FERRAN: Well, I think in a way she's happy to go back to her homeland, and very sad in another way because we've grown very, very attached to our lifestyle, to where we live, and to the friends we have over here. My children have been going to school their whole lives in the US, they made many friends here, I made many friends here. Let's be honest, it's a pretty nice place to live here in South Florida. Obviously there's some feelings about going back to her home country, but also some sadness about what we're leaving behind.

GIL de FERRAN: I have not spoken to Cristiano. I have spoken to other people that I've known in Europe for many years. It's been fantastic, very supportive, with very intelligent advice in many cases.

GIL de FERRAN: You hit the nail on the head. It's certainly an enormous thing in my life and my career, what this appointment is. I felt every emotion you can feel over the last few weeks. I'm hugely excited. I think, of course, I'm hoping this will be the beginning of my next career.

GIL de FERRAN: I think it's yes to both. Obviously, the Indy 500 and open-wheel racing in America has been a part of my staple diet over the last 10 years. You can't cut something off and not have any withdrawal symptoms. For sure that will happen at some point in time. I have no doubt. On the other hand, I'm sure I'll be busier than I can possibly imagine at this very moment. When you find yourself in that situation, you don't have a lot of time to reflect on different things. I guess the answer is yes to both.

GIL de FERRAN: Absolutely.

GIL de FERRAN: No plans for me to drive the car, or any car for that matter. I mean, since I retired from racing in the end of 2003, I've been fortunate enough to be in a position -- had several approaches to drive all sorts of different cars. I've resisted them, in a way somewhat easily. When I decided to stop driving, I was very sure about that. I had no desire to get back in the racing car since then. This job, I think it will be so overwhelming that I'm sure not to have them in the future either.

GIL de FERRAN: I can tell you that as unbelievable as it might seem, I'll tell you no. I've watched Formula 1 races since I stopped driving. I was at the US Grand Prix last year and at the British Grand Prix last year. I watched it with interest, but I had no desire to drive. Of course, my shape is nowhere near as good as it was when I was driving. I don't even think I could do very well.

GIL de FERRAN: I'm sure it will be very challenging in many ways. I'm sure there are a lot of difficulties that I can't even foresee at this very moment. In the end of the day, a lot of characteristics and ingredients in racing are common worldwide. I think what I have learned over the years puts me in a good position to assume this role. Like I stated earlier, I feel ready for it. I feel like -- it feels like it's a natural progression for me to assume such a position, however difficult it may be.

GIL de FERRAN: Thank you very much, everyone. Same here, Nick. I guess I'll see you on Monday and I'll definitely see everyone in Imola.