Williams have announced that chairman Adam Parr will leave the team at the end of this week.
Parr will be replaced by ex-Diageo CEO Nick Rose on March 30.
"Over five years, Adam's achievements have surpassed my expectations and I must thank him for his service," Frank Williams said.
"Not least for the decisive role he played in the technical changes made last year which are beginning to show through in the team's improved competitiveness this season, and for leading this company to a successful IPO.
"Adam leaves us on good terms to pursue a better balance in his life for which I wish him and his family well."
Parr joined the British team in 2006 as CEO before being promoted to chairman in 2010.
