Bernie Ecclestone has thrown his support behind Ron Dennis amid rumours the McLaren boss might not have his contract renewed at the end of the year.
Reports on both Autosport.com and the BBC said Dennis would not be offered a new deal to continue in his role as chairman and chief executive next year when his current contract expires. McLaren has denied Dennis is stepping down and reiterated the fact that he owns 25 percent of the McLaren Group.
Ecclestone, who has not always seen eye-to-eye with McLaren chairman, says it would be wrong for McLaren to get rid of Dennis.
"If I was going to run a team I'd like to have Ron with me," Ecclestone told Reuters. "I think he does a good job.
"Anyone that chucks him out is stupid. He's dedicated.
"I think we ought to try and support him so they don't get rid of him. It would be a shame to see him go. He's one of the good old timers."
Dennis owns an equal shareholding in McLaren as Saudi-born business partner Mansour Ojjeh, with the other 50 percent owned by Bahrain's sovereign wealth fund Mumtalakat. The Reuters article also quoted Mumtalakat CEO Mahmood al-Kooheji speaking in support of Dennis.
"He's a colleague, an inspirational chairman who is behind all the ideas," he said. "Whatever he decides, we will support his decision. I hope he continues and I will try to make him stay."