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Otmar Szafnauer departs as Aston Martin F1 boss

Otmar Szafnauer, chief executive officer and team principal of the Aston Martin Formula One team announced his departure on Wednesday.

The Silverstone-based team, owned by Canadian billionaire Lawrence Stroll, said in a statement that a leadership team would take over until a replacement was appointed.

"We would like to thank him for the service provided to the team over the past 12 years and wish him well for the future as he will undoubtedly take on new challenges.

"Fortunately, we are led and managed by a strong group of individuals, and we are comfortable to take a little time to explore options before announcing a new team structure.