Sean Bratches, Formula 1's managing director of commercial operations, is set to move on from the sport at the end of this year.
Along with F1 CEO Chase Carey and director of motorsport Ross Brawn, Bratches is part of Grand Prix racing's three-pronged management structure installed by Liberty Media when it took over the sport at the end of 2016.
The rumor of Bratches departure from F1 first emerged in early September, but according to a report from RACER, the 59-year-old executive has indeed informed F1's board of directors of his intention of stepping down after the 2019 season.
Under the former ESPN executive's commercial leadership, Formula 1 struck several new TV broadcasting deals, rolled out its own online streaming service and enjoyed a healthy growth on its social media channels.
Bratches led the activation of several Fan Festivals around the world, bringing F1 directly to the public and expanding its reach.
F1's commercial boss also oversaw the arrival of two new races on the sport's 2020 schedule: the Vietnam and Dutch Grands Prix which will expand F1's calendar to 22 events.
But Bratches plans to add a second race in the US and bring Grand Prix racing to the streets of Miami have so far failed to materialize.
Just over a year before Formula 1 undergoes a complete regulation overhaul, Ross Brawn is expected to remain onboard F1 for the foreseeable future.
However, Carey's current tenure at the helm of F1 is set to conclude at the end of 2020 and it's uncertain if the American executive will extend his stewardship with Liberty.