Wolff, who was a test and development driver for the Williams Formula 1 squad after racing in the DTM between 2006 and ‘12, has also become a shareholder in the Monaco-based Venturi team.
After retiring from race driving at the end of 2015, she founded the Dare to be Different initiative to encourage more women to enter motorsport.
“When I decided to stop as a professional driver in 2015, I knew that I wanted to continue with the challenge of competitive racing, just not behind the wheel,” said Wolff.
“You can’t just switch off your competitive instincts when you stop driving and that determination and desire to achieve still burn brightly inside me.
“I took time to carefully decide the right direction for that challenge and I have now found the perfect next step, with the opportunity to become both a shareholder and team principal of Venturi Formula E team.
“I’m really looking forward to working with Gildo [Pastor, Venturi CEO and founder], who is rightly recognised as a pioneer in electric automobiles and who saw the potential of the series from the very beginning.
“He has built a strong team that has earned its place on the Formula E grid and features many talented people who I’m excited to work with.
“Formula E is the perfect environment for this step into team management: it is full of potential, breaking the mould for traditional racing series, and the series is enjoying an exciting phase of expansion at the moment.”
Pastor explained that hiring Wolff marked the start of the next phase in his expansion plan for his team, following an agreement to supply powertrains to HWA in season five and signing Felipe Massa for the 2018/19 campaign.
“I am delighted to welcome Susie on board as team principal and shareholder,” Pastor said. “Her energy and expertise will help us to grow by strengthening the team and introducing a new approach to management.
“Thanks to her personal experience, Susie takes a unique strategic view of the team, the championship and motor racing in general. She will certainly lead the Venturi Formula E team to the top.
“Her desire to become a shareholder illustrates an unwavering commitment, which warms my heart. Venturi and the Venturi Formula E Team are proud to welcome Susie at a key moment in the history of the group.”
Wolff will take charge of the Venturi squad ahead of the FE season four finale in New York next month, where Tom Dillmann will again replace Edoardo Mortara alongside Maro Engel.
Dillmann also raced for Venturi at last month’s Berlin round while Mortara was racing for Mercedes in the DTM that weekend.
Mortara will again race for Mercedes at the Zandvoort DTM round, which takes place on the same weekend as the New York FE double-header.