Jean Todt severs Ferrari ties

Jean Todt has ended his long-standing relationship with Ferrari by stepping down from his post-racing position on the Italian marque's board of directors with immediate effect.

Todt's decision to tether the Prancing Horse for the last time was announced by president Luca di Montezemolo at the company's annual stockholders' meeting on Tuesday, leading to the usual tributes being paid to the man generally acknowledged as having played perhaps the biggest part in Ferrari's Formula One revival.

Having been drafted in to take charge of a rudderless ship that had not tasted the high of drivers' championship success since Jody Scheckter's 1979 triumph, Todt - along with the 'dream team' of Ross Brawn, Rory Byrne, Paolo Martinelli and, of course, Michael Schumacher - set about transforming the fortunes of the Scuderia, leading to five consecutive crowns for the German between 2000-04.

Having seen Schumacher announce his retirement and the gradual break-up of the group of principal figures precipitated by Brawn's decision to take a sabbatical, Todt remained at the head of the team for one more year, eventually handing the reins to Stefano Domenicali at the end of 2007.

He remained as the marque's chief executive officer until last March, and then retained a place on the board, before eventually severing all ties with Tuesday's announcement.

''Jean Todt has been one of the leading protagonists of the Ferrari story of the last 15 years,'' Montezemolo declared as he paid tribute at Tuesday's meeting, ''Skill and passion have always characterised his work, and have won him my personal respect and affection, that of the company as a whole and of Prancing Horse enthusiasts everywhere.

''All of these years we've spent together - victories and tough times included - have forged a link between Jean Todt and Ferrari that will never be broken. I would like to wish him the very best for the future, which I hope will prove extremely satisfying, both personally and professionally.''

The Frenchman has been touted as a potential replacement for Max Mosley as FIA president, although his close relationship with Ferrari may preclude his election.

Incidentally, the stockholders' meeting also approved the company's balance sheet for 2008, reporting record results across all of the main economic indicators.