Franz Tost will step down as team principal of AlphaTauri at the end of the season.
The 67-year-old has held the position at Red Bull’s sister team since 2005, making him the longest-serving team boss on the grid.
However, he will leave the team at the end of the 2023 campaign to be replaced by current Ferrari sporting director Laurent Mekies.
Former FIA executive director Peter Bayer will also be joining AlphaTauri as chief executive and the team undergoes a management reshuffle.
The team, which has taken just a single point in the 2023 championship so far, confirmed Tost will remain as a consultant for 2024.
“It has been a true privilege to lead the team for such a long period and a great pleasure to work with so many motivated and skilled people, who share my passion for Formula 1,” Tost said.
“At 67 years old it is time to hand over and with Peter as new CEO and Laurent as team principal, we found two very professional people, who will bring the team to the next level. I want to thank everyone for the good cooperation.”