Cosworth staying in 2011 as chairman Williams steps down

(GMM) Williams will continue to be powered by Cosworth engines in 2011, the British team said in the Silverstone paddock on Thursday.

It had been rumored that the team was eyeing a switch to Renault, but Cosworth's Mark Gallagher responded by insisting a three-year contract is in place.

Due to the duration of the current contract, and the fact the situation will be unchanged in 2011, it is believed the Grove based outfit will not issue a media statement to confirm the identity of its ongoing engine supplier for 2011.

Also announced by Williams on Thursday is that chief executive Adam Parr is now taking over as chairman, even though Sir Frank Williams remains the official team principal.

But Parr's new role hands him full responsibility of the day-to-day running of the team, with long-time boss and majority shareholder Williams, 68, still having the final say on decisions.