Ross Brawn is to officially step down as Mercedes team principle at the end of December after four years on Thursday afternoon.
It is believed that the 59 year-old is standing down following changes to the management structure at the Brackley outfit.
Mercedes are due to issue a statement confirming the long-expected news that the Englishman, one of the great figures of Formula One for the past 20 years, will be leaving the team.
It is understood that executive directors Toto Wolff and Paddy Lowe will lead the team who's drivers are 2008 champion Lewis Hamilton and German Nico Rosberg.
Mercedes had originally asked Brawn to stay on but he recently made clear that he would only carry on if he was able to stay in sole position of the team.
Mercedes, however, consider a single team principle with overall charges of all aspects of the F1 operation to be an outdated concept due to the continuous advancements of the sport.
Brawn, who has recently been linked with a whole host of new jobs including Honda, who will rejoin the sport next year as engine providers to mercedes is reportedly in no hurry to join another team ahead of the 2014 season which starts in March.
It is most likely that he will take a break as he did when he left Ferrari in 2006 and spend the majority of the time on one of his favourite hobbies angling.
In his role at formidable italian outfit he led the team to Michael Schumacher's five consecutive world titles from 2000-2004 as well as six constructor's championships in a row.
"The most important consideration in my decision to step down from the role as Team Principal was to ensure that the timing was right for the team in order to ensure future success," Brawn said to reporters.
"The succession planning that we have implemented during this year means that we are now ready to conduct the transition from my current responsibilities to a new leadership team composed of Toto and Paddy."
The Englishman finished by saying that organisational changes meant that the team was "uniquely positioned to succeed in 2014" and that he was "proud to have helped the lay the foundations for that success."
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