Ferrari F1 Team Principal Quits After Disastrous Start To 2014

Stefano Domenicali has resigned as team principal of Ferrari's F1 outfit after a terrible start to the 2014 season.

Marco Mattiacci, president and CEO of Ferrari North America, will replace him with immediate effect. Domenicali joined the iconic team in 1991 and rose swiftly through the ranks, before being appointed team principal in 2008.

Under his leadership, the team only scored one constructors' title and never had a driver crowned world champion. The team hoped the radical new regulations for this season would help them return to the front, but instead, the team suffered its worst start to a season since 2009.

Domenicali said in a statement:

"There are certain moments in the professional life of each of us where it takes courage to make tough decisions. It’s time to implement a major change. Again, I take responsibility – as I always have – for the situation we are experiencing.

is a choice taken with the desire to do something to give a jolt to our environment and for the sake of this group, which are closely linked. I sincerely thank all the men and women of the team, the drivers and partners for the wonderful relationship had through the years."