Jean Todt, Ferrari’s chief executive officer has resigned and will be replaced by general manager Amedeo Felisa.

Todt also headed Ferrari's Formula One team between 1999 and 2004. In 2006 Todt also became CEO of Maranello, the Italy-based luxury sportscar builder.

Todt will stay at Ferrari in a "specialised assignment" within the manufacturer’s sports division and will now "dedicate more time to myself and the things I'm interested in".

Todt will remain a board member as well as chairman of Ferrari Asia Pacific and Ferrari West Europe.