Toto Wolff says he is considering whether to continue as Mercedes team principal after this season.
Under Wolff, Mercedes have become the most successful F1 team in history but his contract runs out this year.
He said he was discussing his future with Ola Kallenius, chairman of Mercedes’ parent company Daimler.
“Many factors make me want to stay but it takes its toll,” Wolff said. “There is no reason not to continue. We will find out in which role.”
Wolff is a 30% shareholder in the Mercedes F1 team as well as its boss, and that of the entire Mercedes motorsport programme.
He said: “We want to do the best for the team and continue to see the team prosper. I really enjoy the role and my plan is to continue but I never want to be in situation where you are becoming from very good to good.”
Lewis Hamilton has said he wants clarity on Wolff’s future before he commits to Mercedes beyond this year, but the Austrian said he did not believe his future would make a difference to the British six-time champion’s decision.
“Lewis staying is the best thing he can do and it’s what he wants to do,” Wolff said.
“He has the possibility of achieving great success. It’s flattering he says it is dependent on what I do but he doesn’t need me.
“I haven’t taken the decision yet. These are discussions that are ongoing and positive and I enjoy them.
“I don’t want to give you the spin I am leaving because that is not the case. It is just I am in a moment of reflection, where F1 is heading, what is happening around Covid and also personal reasons.
“[My wife] Susie is in a good place running a Formula E team and that means she is away a lot and I have been to something like 120 grands prix in the last eight years and it is something we are thinking about.”
Wolff added that there had been progress in talks between Mercedes and F1 over the team’s new contract to race in the sport after this year, having indicated a week ago that negotiations were at an impasse.
“I have had very constructive discussions with Chase [Carey, the F1 chairman and chief executive] over the last week,” Wolff said.
“Most of the clarifications we wanted to achieve have been discussed and I feel we are at a good point where we can sign the Concorde Agreement and move on.”
The Concorde Agreement is F1 industry jargon for the contracts between teams and the sport, dating back to the original agreement back in 1981 that ended a period of political warfare.