Dennis was placed on gardening leave yesterday after more than 35 years at the company, having stepped down from his role as chairman and chief executive officer of the company.
The 69-year-old had tried to gain full control of the company earlier this year but that failed attempt resulted in moves to oust him from the company entirely.
"During his tenure the team won 17 world championships and 158 Grands Prix, making him the most successful leader in Formula One history," McLaren said in a statement."Like the company's founder, Bruce McLaren, Ron is, and always will be, one of the true greats of the sport."
McLaren also revealed that no immediate successor is in place, and they are currently searching for a replacement CEO.
"McLaren Technology Group is now in the process of seeking a new chief executive officer," the statement added.
"Until such an appointment has been made the company will be run on an interim basis by an executive committee comprising the group's majority shareholders."
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