Scuderia Ferrari has released a short statement confirming Maurizio Arrivabene's departure from Maranello, and his replacement by Mattia Binotto with immediate effect.
"After four years of untiring commitment and dedication, Maurizio Arrivabene is leaving the team," said Ferrari on Monday afternoon.
"The decision was taken together with the company’s top management after lengthy discussions related to Maurizio’s long term personal interests as well as those of the team itself.
"Ferrari would like to thank Maurizio for his valuable contribution to the team’s increasing competiveness over the past few years, and wish him the best for his future endeavours.
"With immediate effect, Mattia Binotto will take over as Scuderia Ferrari’s Team Principal. All technical areas will continue to report directly to Mattia."
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