has announced a major reshuffle of its senior management structure. Franz Tost will step down as team principal of the Red Bull-owned Formula 1 team after the 2023 season. He will serve as a consultant for the team in 2024. Tost was appointed to lead the team after the energy drink company purchased Minardi in late 2005 and rebranded the Italian team as for the 2006 season. AlphaTauri has announced that Tost’s role will be split into two positions.

Scuderia AlphaTauri stated that Sporting Director Laurent Mekies will become the new team principal at a date to be confirmed. Peter Bayer will also be joining the team to serve as its Chief Executive Officer. Bayer was previously the FIA’s F1 Executive Director and Secretary General for Sport. Mekies will be leading day-to-day operations while Bayer manages AlphaTauri’s strategic direction.

In a statement from the team, Tost said:

“First of all, I would like to thank Dietrich Mateschitz, who gave me the incredible opportunity to be Team Principal of Scuderia Toro Rosso and Scuderia AlphaTauri for the past 18 years. It has been a true privilege to lead the Team for such a long period and a great pleasure to work with so many motivated and skilled people, who share my passion for Formula 1. With 67 years old it is time to hand over and with Peter as new CEO and Laurent as Team Principal, we found two very professional people, who will bring the Team to the next level. I want to thank everyone for the good cooperation.”

The team’s future has been under scrutiny since the death of Red Bull co-founder last year. Red Bull’s new corporate leadership has questioned the financial viability of operating Though, rumors for have been denied by many including Tost. While Red Bull Racing comfortably leads the F1 standings, Scuderia AlphaTauri has struggled to put points on the board during the 2023 season’s opening rounds.