Mateschitz bought the team, then known as Minardi, in 2005 from Paul Stoddart before selling a 50 percent stake to the former grand prix winner Gerhard Berger.

CNN: F1 changes force Toro Rosso sale

The team's co-owner Gerhard Berger played down reports that Speed had been sacked after an angry row with Toro Rosso chief Franz Tost after the race in Germany.

BBC: Toro Rosso keep Vettel for 2008

"I grew up in Austria and when I was a child, there were famous Austrian drivers like Niki Lauda and Gerhard Berger and a race in Austria, so I had a basic knowledge of the sport, " she said.

CNN: First lady of Formula 1 takes control of the track