Scuderia Ferrari has confirmed Maurizio Arrivabene's exit as its Formula 1 team principal after four years, with chief technical officer Mattia Binotto taking ove🦋r in the role ahead of th🗹e 2019 season.

Reports emerged on Monday morning claiming Arrivabene would be exiting the team, with official🔜 confirmation arriving from Ferrari in the evening.

"After four years of untiring commitment and dedication, Mauri🐻zio Arrivabene is leaving the team. The decision was taken together wit🧜h the company’s top management after lengthy discussions related to Maurizio’s long-term personal interests as well as those of the team itself," a statement from Ferrari reads.

"Ferrari would like to thank Maurizio for his valuable contribution to the team’s incrꦏeasing competitiveness over the past few years, and wish him the best for his future endeavours.

"With immediate effect, Mattia Binotto will take over as Scuderia Ferrari’s Team Principal. All tech😼nical areas will continue to report dir♛ectly to Mattia."

Arrivabene leaves Ferrari after joining the team at the end of 2014 as team principal, having previously enjoyed ties to the operation via its primary sponsor, Philip Morris Intern🌃ational.

Long-serving Ferrari engineer Binotto now ascends to the chief F1 role at Maranello, fulfilling the plans laid out by former Ferrari CEO and🍨 chairman Sergꦰio Marchionne prior to his death in the summer.

While the statement says all technical areas at Ferrari will continue to answer to Binotto, it is understooꦐd that sporting direct☂or Laurent Mekies is likely to step into a wider technical role at the team.