- Paddy Lowe cleared to join Mercedes from McLaren on June 3
- Lowe to work alongside team principal Ross Brawn as executive director (technical)
- Williams deputy team principal says finances more important than race result
- Claire Williams also describes Valtteri Bottas as a future world champion
After four months on the scrapheap Paddy Lowe will be back in the fast lane in June after his switch from McLaren to Formula One rival Mercedes was confirmed.
Lowe was recruited by Mercedes in January only for McLaren to remove him from his role as technical director and insist he sees out his contract, which was set to expire at the end of the current season.
It was originally thought Lowe would replace current Mercedes team principal Ross Brawn, but he will now work alongside his fellow Briton as "executive director (technical)" from June 3.
"I am excited to become part of a highly talented and capable technical organization," said Lowe, who follows 2008 world championship-winning driver Lewis Hamilton in swapping McLaren for Mercedes, in a statement.
"That is a challenge I am relishing. I have worked closely with Mercedes-Benz for almost 20 years and deeply admire the company's phenomenal commitment to Formula One. I look forward to much success together in the years ahead."
Lowe adds to a wealth of experience in the Mercedes hierarchy. Brawn oversaw all seven of Michael Schumacher's world titles in addition to Jenson Button's in 2009.
Mercedes sit fourth in the constructors' championship ahead of Sunday's Monaco Grand Prix, the sixth race of the 2013 season.
"I am delighted to welcome Paddy to the team and to begin working together," said Brawn. "He has an excellent record of success in the sport and would be an asset to any of our rivals in the pit lane.
"Paddy's arrival will further strengthen our organization and puts us in a strong position for the future."
While Mercedes are able to invest in pursuit of race wins, other teams face more stark financial realities.
This time last year Williams were celebrating Pastor Maldonado's win at the Spanish Grand Prix.
Twelve months on Maldonado and rookie teammate Valtteri Bottas both failed to make it out of the first round of qualifying last time out in Barcelona.
While results on the track have been disappointing, deputy team principal Claire Williams insists financial solvency is of greater importance.
"The budget is always the most important thing -- securing more revenue than I did last year," Williams, whose father Frank Williams founded the team, told Formula One's official website.
"That is really important to me -- getting as much money in for the team as I possibly can. The more money you have the better your race car can be, in effect.
"Secondly, making sure politically that the team is in the best position. And thirdly - and probably most importantly -- results.
"Being at the top of the grid and fighting for world championships. I'm not going to give up until we're back again."
Bottas is yet to score a point in Formula One, with his best finish of 11th coming at the Malaysian Grand Prix.
Williams praised the young Finn, suggesting he will be challenging at the front of the grid as his career progresses.
"I think we definitely have a future world champion at hand -- but of course we have to give him the car to allow him to prove his talent," declared Williams.
"He has done a good job so far. He has finished every race, made up positions with great overtaking manoeuvres, and is giving strong feedback to the engineers in order to improve the car."