Former McLaren team principal Ron Dennis was on Thursday returned as chief executive, charged with resurrecting the fortunes of the ailing Formula One giants.
Dennis, already the chairman of the McLaren Group, was in charge of the team from 1982 until 2009.
During that time, he helped mastermind 10 world drivers titles and seven constructors crowns.
But last year, under new principal Martin Whitmarsh, McLaren endured their worst season for three decades, failing to score a podium finish for the first time since 1980.
"My fellow shareholders have mandated me to write an exciting new chapter in the story of McLaren, beginning by improving our on-track and off-track performance," said Dennis.
"Over the coming weeks I intend to undertake a thorough and objective review of each of our businesses with the intention of optimising every aspect of our existing operations, whilst identifying new areas of growth that capitalise on our technologies, and where appropriate further investing in them."
McLaren did not comment on the future of Whitmarsh, but Dennis insisted his job was to get the team winning again.
"During February, I will articulate a new Group strategy and implement the organisational structure best suited to achieving it," he added.
McLaren will have former world champion Jenson Button and Danish rookie Kevin Magnussen behind the wheel in the 2014 season.
Last season they finished fifth in the constructors' championship, with Button ninth in the drivers' standings, and Sergio Perez in 11th place.
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