Nick Fry will step down from his role of CEO at the Mercedes AMG F1 team at the end of the March.
The Briton has been with the team since the German marque tookover Brawn GP, of which he was a major shareholder, at the end of the 2009 season.
This is the latest development in what has been a busy couple of years for Mercedes as they undergo a major management re-shuffle in a bid to up their performance.
Fry will be replaced by Toto Wolff. The Austrian joined from Williams in February to replace motorsport director Norbert Haug.
Whilst neither side has commented on the reports, it’s believed to be an amicable agreement which will see Fry remain involved on a consultancy basis.
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