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."
Gallery: The beautiful wives and girlfriends of F1 drivers
Keep up to date with all the F1 news via Facebook and Twitter
Amid Formula 1’s silly season rumors: Oscar Piastri has made one thing crystal clear: he…
Charles Leclerc believes Formula 1's new-era machinery has forced him to rethink one of the…
Formula 1's teams and drivers regroup this weekend surrounded by the majesty of the Ardennes…
Max Verstappen has once again refused to reveal his hand on his Formula 1 future,…
Aston Martin is facing a race against time at Spa-Francorchamps, with the team's ambitious push…
Red Bull has opted for caution over innovation ahead of this weekend’s Belgian Grand Prix…