Patrick Head has admitted he will begin to take more of a back seat at Williams from 2012.
Earlier this year, the famous team’s 66-year-old co-founder released most of his shareholding for the Frankfurt floatation, before chairman Adam Parr announced to the press that Head "will be retiring at some point this year".
Head reacted angrily to Parr’s statement but at Silverstone admitted that his director of engineering role at the Oxfordshire based team is changing.
"All I know is I’m not retiring," he is quoted by the Independent newspaper.
"I probably won’t be involved with Williams formula one in the same way from the end of the year but I’ll still be involved in some Williams activities," added Head.
The newspaper said a change of title is likely for Head, but not a stepping back as a shareholder or board member.
Head added that he will "certainly turn up at a few races" in the future but will not have a hands-on engineering role at the grands prix.