Jean Todt leaves Ferrari CEO role

Jean Todt

Former Ferrari team boss Jean Todt has stepped down from his position as the company's CEO.

Todt had handed over the reins of the racing team to Stefano Domenicali at the start of this year.

He will remain on the Ferrari board, and has been appointed to special duties within the GT division and sports management by company president Luca di Montezemolo.

"My commitment to the President had been to manage the company until the end of his mandate as President of Confindustria and to indicate the new director of the Sports Management," Todt explained.

"Having accomplished these tasks, a new phase of my life has now begun in which I will have more time to dedicate to myself and my other interests.

"Naturally I will continue to make a contribution to Ferrari in my institutional positions and in those which the President has chosen to entrust me."