Ferrari have announced that Mattia Binotto is to leave his position as Ferrari Team Principal at the end of the year, putting an end to weeks of speculation.

Binotto, who originally joined the team as an engine engineer back in 1995, took on his current role – encompassing the Gestione Sportiva department – ahead of the 2019 campaign.

“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.”