Date: 14th April 2014 at 2:11pm
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Stefano Domenicali has resigned with immediate effect from his role as the team principal of Ferrari.

The move comes after a disappointing start to the season for the Ferrari team.

Despite piecing together a dream team pairing of former Formula One World Champions Fernando Alonso and Kimi Raikkonen, the Italian manufacturer has struggled to make the transition from the old v8 era to the new hybrid v6 turbo regulations of modern day F1.

The switch in regulations should have benefitted Ferrari as a works team, just like Mercedes have hit the new season in form and with a performance advantage over their rivals, but it simply hasn’t worked out like that and Domenicali has quit as a result.

‘There are particular moments in all of our professional lives where you need the courage to take difficult and very painful decisions, it’s time to make an important change. As boss, I take the responsibility – as I always have – for the situation we are going through.’ he told the BBC.

A statement on Sky Sports read: ‘On receiving Stefano Domenicali’s resignation, Ferrari thanks him for the dedication he brought to his service to the company, in positions of ever increasing responsibility over the past 23 years. It offers Stefano Domenicali its most sincere best wishes for the future.

‘Ferrari announces that, as from today, it has appointed Marco Mattiacci, current President and CEO of Ferrari North America, as the new head of the Gestione Sportiva

‘In accepting Stefano Domenicali’s resignation, Ferrari President Luca di Montezemolo commented: “I thank Stefano Domenicali, not only for his constant dedication and effort, but also for the great sense of responsibility he has shown, even today, in always putting the interests of Ferrari above all else. I hold Domenicali in esteem and I have watched him grow professionally over the twenty three years we have worked together, I now wish him every success for the future. I also want to wish all the best to Marco Mattiacci, whom I know to be a highly regarded manager and who knows the company well. He has accepted this challenge with enthusiasm.”