After 20 years at the helm of Red Bull Racing, Christian Horner is out as team principal and CEO, effective Wednesday. The bombshell move comes at a tumultuous time for the Formula One team as it struggles to create a competitive car, sitting fourth in the constructors’ standings largely thanks to Max Verstappen’s performances this season.

Former Red Bull Racing CEO and team principal Christian Horner has responded to his sudden ousting from the team. Horner served the outfit for 20 years since 2005, and was said to have a contract lasting until 2030.

Christian Horner gave an emotional farewell to staff after being sacked as Red Bull boss on Wednesday and said leading the team had been the biggest privilege of his life. Sky Sports television ran a video clip of the gathering at the Milton Keynes factory with the 51-year-old addressing the team for the last time as principal.