Jost Capito is stepping down as the principal of Williams, the team announced on Monday.
Capito had been in the position for two years having initially joined the team as CEO in December 2020.
The 64-year-old leaves his role after Williams finished bottom of the constructors’ championship standings in 2022, having now done so four times in the last five years.
In Williams’ announcement, Capito said: “It has been a huge privilege to lead Williams Racing for the last two seasons and to lay the foundations for the turnaround of this great team. I look forward to watching the team as it continues on its path to future success.”
Williams become the second team in Formula One to head into 2023 without a team principal appointed, after Ferrari announced in November that Mattia Binotto was to step down at the end of the year.
It is rumoured Sauber’s Frederic Vasseur could soon be the third team principal to leave his job, amid speculation he could replace Binotto at Ferrari.