Red Bull Racing announced Wednesday that CEO Christian Horner is departing the team after 20 years at the helm.

After 20 years with the Team, Christian Horner departs Oracle Red Bull Racing as Team Principal and CEO. We thank him for his tireless and exceptional work. He has been instrumental in building this Team into one of the most successful in F1, with eight Drivers' Championships… pic.twitter.com/9SyqjSBvEG

“Red Bull has released Christian Horner from his operational duties with effect from today and has appointed Laurent Mekies as CEO of Red Bull Racing. “We would like to thank Christian Horner for his exceptional work over the last 20 years.