Ferrari have revealed that their General Manager, and their Formula One team's principal, Jean Todt has been appointed as the company's Chief Executive Officer. Taking the post of General Manager will be Amedeo Felisa. Both decisions were made at today's meeting of the Ferrari S.p.A. Board of Directors in Turin.

Todt takes over the post from the company's president Luca di Montezemolo, who also attended the meeting in Northern Italy.

This announcement could possibly pave the way for Todt's retirement from his involvements in the Formula One team, with further announcements expected in the very near future regarding the structure of the team. Following Schumacher's retirement, Technical Director Ross Brawn is expected to join Jean on the sideline, with the Brit set for a one-year hiatus from the sport.