McLaren boss Ron Dennis said on Tuesday he had decided to stay at the helm of the Formula One team, ending media speculation that he was about to stand down.
A team spokesman said the 60-year-old Briton addressed employees at the Mercedes-powered team's Woking factory before catching a flight to Melbourne for Sunday's season-opening Australian Grand Prix.
Dennis has already handed over much of the day-to-day running of the team to chief executive Martin Whitmarsh and has talked in the past about his desire to stand back.
Media reports in Britain this month suggested that Dennis, who owns 15 percent of the team and took control of McLaren in 1980, was thinking of quitting either before the start of the season or shortly after.
Despite winning eight of the 17 races, McLaren had a nightmare 2007 season in which they were fined a record $100 million (50 million pounds) and stripped of all their constructors' points for a spy saga involving leaked Ferrari [Images] data.
Dennis was also recently questioned by an Italian magistrate investigating that controversy.
McLaren have won 132 races, seven constructors' championships and nine drivers' crowns since Dennis took charge of the team. Their last was with Finland's Mika Hakkinen in 1999.
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