Ferrari team principal Mattia Binotto has decided to resign from his post at the end of 2022.

The team confirmed the news of his departure on its website noting that a hunt for the replacement was “underway”.

“With the regret that this entails, I have decided to conclude my collaboration with Ferrari. 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.”

Mattia Binotto had been at Ferrari since 1995 and was appointed team boss in January 2019, replacing Maurizio Arrivabene.

The team had recently denied a media report of his dismissal as “totally without foundation”.

The 53-year-old was blamed for Ferrari’s struggles this year. Despite, arguably, having the fastest car on the grid, Ferrari was easily beaten by Max Verstappen and Red Bull and was almost caught by a resurgent Mercedes towards the end.

Alfa Romeo team principal Frederic Vasseur is being tipped as Binotto’s replacement as they look to mount a refreshed challenge next year.