- Binotto had been with Ferrari since 1995
- 53-year-old's successor will be fifth team principal in nine years
Mattia Binotto has resigned as team principal of Ferrari and will leave the Formula One outfit on 31st December.
The 53-year-old, who has been with Ferrari since 1995, exits after three years in his current role heading up the Italian team.
Ferrari said that the search for Binotto’s successor was underway and the new team principal is expected to be finalised in the new year.
“With the regret that this entails, I have decided to conclude my collaboration with Ferrari,” said Binotto.
“I am leaving a company that I love, which I have been part of for 28 years, with the serenity that comes from the conviction that I have made every effort to achieve the objectives set. I leave a united and growing team. A strong team, ready, I’m sure, to achieve the highest goals, to which I wish all the best for the future.
“I think it is right to take this step at this time as hard as this decision has been for me. I would like to thank all the people at the Gestione Sportiva who have shared this journey with me, made up of difficulties but also of great satisfaction.”
Ferrari chief executive Benedetto Vigna added: “I would like to thank Mattia for his many great contributions over 28 years with Ferrari and particularly for leading the team back to a position of competitiveness during this past year. As a result, we are in a strong position to renew our challenge, above all for our amazing fans around the world, to win the ultimate prize in motorsport.
“Everyone here at the Scuderia and in the wider Ferrari community wishes Mattia well for the future.”
Binotto’s departure comes shortly after a season that began with promise for Ferrari, but quickly became defined by a string of car reliability issues and race management errors.
Ferrari had denied earlier this month they were looking to replace Binotto but it was purportedly an open secret over the Abu Dhabi Grand Prix weekend that the Italian was to leave. Motorsport.com also reports that Binotto felt he did not have the support of Vigna or Ferrari chairman John Elkann, prompting his decision to quit.
Current Alfa Romeo team principal Frédéric Vasseur has been touted as Binotto’s replacement. Whoever eventually takes the reins will be Ferrari's fifth team principal in just nine years.