Team Principal of Scuderia Ferrari in Formula One, Mattia Binotto is set to leave his post and will part ways with the team before the end of the year. 

Ferrari officially put out a statement that the 53-year-old Italian had resigned from his role on Tuesday and that a process to find a replacement for him is already ‘underway.’

Binotto has been a part of Ferrari since 1995. He said, “With the regret that this entails, I have decided to conclude my collaboration with Ferrari.

“It is right to take this step, as hard as this decision has been for me.”

He had joined the team in 1995 and worked his way up the ladder and took charge of the engine department in his first senior role with Ferrari in 2013. Binotto then became the technical director of the entire F1 team in July 2016, before eventually being appointed the Team Principal in 2019, replacing Maurizio Arrivabene.

He will leave at the end of the year on 31^st December, 2022. Ferrari have had a mixed year under his leadership this season. While they did achieve their goal of providing its drivers with a fast car capable of matching the pace of Red Bull and Mercedes and winning races, the team also suffered from a plethora of reliability errors, malfunctions, operational errors, as well as questionable technical decision-making behind the scenes.

Ferrari’s Charles Leclerc had led the World Drivers Championship at one point of the season, but in the end, he could only manage second place, finishing a whopping 146 points behind eventual winner Max Verstappen. His teammate Carlos Sainz finished fifth in the Drivers Championship.

In the World Constructors’ Championship, Ferrari took second place, finishing 39 points ahead of Mercedes.

“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,” Binotto further added.

Reports at this time suggest that Alfa Romeo team principal Frederic Vasseur is being tipped as his replacement.