Flavio Briatore has been appointed as the Managing Director of the Benetton Formula 1 Team by the new owners Renault. Renault had announced on Thursday that they had bought the team, but planned to return to Formula One in 2002. The appointment marks the return of Briatore to the Benetton team of whom he was team boss from 1989 to 1997. It was Briatore who took Schumacher from Jordan in 1991 which lead to the Benetton/Shumacher back to back Championships in 1994 and 1995.