Ferrari CEO, former F1 boss Jean Todt steps down

Ferrari chief executive officer Jean Todt, the former longtime head of the automaker's Formula One team, resigned on Tuesday at Ferrari's shareholder meeting.

Amedeo Felisa, an 18-year Ferrari veteran, takes over as CEO. He was most recently the company's general manager.

Todt became Ferrari's chief executive in 2006 and subsequently signaled a desire to step down, according to a company statement. He joined Ferrari in 1993 and was promoted to general manager in 2004. He stepped down as F1 boss on Jan. 1 and was replaced by Stefano Domenicali.

During Todt's tenure, Ferrari evolved from an F1 team known for a chaotic infrastructure and disorganization into a perfectionist juggernaut, winning six driver's world titles (five with Michael Schumacher and one with Kimi Raikkonen) and seven constructor's championships.

Todt remains on the Ferrari board and will head regional boards in western Europe and Asia. He will also remain Ferrari's representative for the FIA World Council.