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Stefano Domenicali done as Ferrari boss

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Citing that it “is time for a significant change,” Stefano Domenicali, 48 tendered his resignation as head of the Ferrari F1 team. "As the boss I take responsibility as I always have done, for our disastrous showing so far this season. Both Ferrari drivers Fernando Alonso and Kimi Raikkonen, have been left in the dust this season by Mercedes, finishing 10th and 11th behind Lewis Hamilton at Bahrain.

"I don’t like seeing our drivers fighting hard everywhere and then being unable to attack or defend on the straights," lamented Domenicali. "There are special moments that come along in everyone's professional life when one needs courage to take difficult and very agonizing decisions," he added.

The company’s North American CEO Marcos Mattiacci, who hopes to turn bring the team back to its glory days, will replace him for the rest of the 2014 season. While the team can still boast about being the “most successful team in Formula One history have won 15 drivers’ championships and 16 constrictor titles, Domenicali was only able to achieve one constructors title during the first year of his 7-year leadership. However, he was never able to steer them to a drivers’ title during his tenure, although Felipe Massa came closest when he finished second to Sebastian Vettel in 2008.

Raikkonen, who was the last Ferrari driver to “ be crowned world champion” in 2007, currently stands in 12th place with 7 points, while Alonso is in 4th place with 26 points (35 points behind leader Nico Rosberg. In addition, Ferrari is wallowing in 5th place in constrictor points with a mere 33, well behind the 111 earned by Mercedes so far this year.