After months of rumour and denials it has finally been announced that Jean Todt will leave his position as Chief Executive of Ferrari SpA, although he remains on the Board. His place will be taken by Amedeo Felisa who was General Manager. At the Ferrari shareholders' meeting this week the Board of Directors renewed the appointments of Luca di Montezemolo as President of Ferrari SpA and Piero Ferrari as Vice-President.

The Board is now composed as follows: Luca di Montezemolo, Piero Ferrari, Jean Todt, Amedeo Felisa, Alfredo Altavilla, Diego della Valle, Christopher Gent, Ferruccio Luppi, Sergio Marchionne, Paolo Monferino, Lindsay Owen-Jones (Chairman & former CEO of L'Oréal and noted historic racer), Marco Piccinini and Sergio Pininfarina.

Todt maintains his positions as President of the Boards of Directors of Ferrari Asia Pacific and of Ferrari West Europe, and will continue to represent Ferrari at the FIA World Council. He will furthermore be given what are known as "special appointments" directly by the President.

Ferrari thanked Todt for the extraordinary human and professional contribution he has made over the last fifteen years.

Scuderia Ferrari was at a low ebb when the Frenchman joined in 1993 as Director of GES , fresh from organising Peugeot's success in rallying and sportscar racing. His act of genius was in signing Michael Schumacher and with him the rest of the Benetton "Dream Team", Ross Brawn, Rory Byrne and Willem Toet (currently doing great things at BMW Sauber). The now-disgraced Chief Mechanic Nigel Stepney was already in place, having been recruited previously by John Barnard.

With Todt's departure from the F1 scene, what will probably be the greatest era in Formula 1 for any team truly comes to an end - it seems unlikely ever be repeated.

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