MARANELLO, Italy (AP) Ferrari replaced Maurizio Arrivabene with Mattia Binotto as team principal on Monday following another failed Formula One title chase.

Binotto, who had been working as Ferrari's chief technical officer, has been with the team for nearly 25 years.

"After four years of untiring commitment and dedication, Maurizio Arrivabene is leaving the team," Ferrari said in a statement. "The decision was taken together with the company's top management after lengthy discussions related to Maurizio's long term personal interests as well as those of the team itself.

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