Ferrari has confirmed that it has Maurizio Arrivabene has relinquished his role as Team Principal and has left the marque.
Arrivabene, who has held the position of team boss since 2014 when he took over from Marco Mattiacci, will be replaced by chief technical officer Mattia Binotto.
"After four years of untiring commitment and dedication, Maurizio Arrivabene is leaving the team," the Italian outfit confirmed on Monday.
"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 competitiveness 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."
Arrivabene has overseen Ferrari's re-emergence as a title contender in 2018, though the team ultimately fell short during the final leg of the season and lost out to Mercedes.
A number of strategic errors, combined with unfortunate incidents for lead driver Sebastian Vettel, cost Ferrari a shot at both Constructors' and Drivers' titles, extending their title drought to a decade, with their last success coming in 2007 with Kimi Raikkonen and 2008 for the team.
Under Arrivabene, the team has finished runner-up on three occasions (2015, 2017, 2018) and third in 2016.
Binotto, who has been with Ferrari since the mid-1990s, has held the position of Chief Technical Officer since 2016.
