Former Formula 1 test driver Susie Wolff has been appointed the new team principal of the Venturi Formula E team in which she will also become a shareholder.
"With immediate effect Susie will lead the team's preparations for season 5 of the ABB Formula E Championship, set to begin on 15 December 2018 in Saudi Arabia," said the Venturi team on its website.
Wolff attempted to shatter F1's glass ceiling, taking part in practice sessions for the Williams team but never reaching the start line and she opted to retire as a driver in 2015.
"When I decided to stop as a professional driver in 2015, I knew that I wanted to continue with the challenge of competitive racing, just not behind the wheel," said the 35-year-old Wolff on Tuesday.
"You can't just switch off your competitive instincts when you stop driving and that determination and desire to achieve still burn brightly inside me.
"I took time to carefully decide the right direction for that challenge and I have now found the perfect next step, with the opportunity to become both a shareholder and Team Principal of Venturi Formula E Team."
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'Oh so close'
When Wolff stepped away from Formula 1 in 2015 she wrote in a blog for the Huffington Post: "I got oh so close. I fought very hard to make it onto that starting grid but the events at the start of this year and the current environment in F1 the way it is, it isn't going to happen.
"My progression into Formula One came to represent so much more than a racing driver simply trying to reach the pinnacle of the sport.
"I rode the wave, was energized by all the support and fought hard. There were those who wanted it to happen. Those who didn't."
As Venturi's team principal Wolff will work with ex-F1 driver Felipe Massa, who will drive for the Monegasque Team in the all-electric series for the 2018/19 season.
The 37-year-old Massa, winner of 11 grands prix over the course of his 15-year F1 career, has signed a three-year contract.
READ: Motorsport great Felipe Massa to race in Formula E
"Formula E is the perfect environment for this step into team management: it is full of potential, breaking the mould for traditional racing series, and the series is enjoying an exciting phase of expansion at the moment," added Wolff.
The Venturi team was co-founded by Hollywood star Leonardo DiCaprio.
"Her desire to become a shareholder illustrates an unwavering commitment which warms my heart," said Venturi's CEO Gildo Pastor.