Fry to leave Mercedes role
Mercedes have officially confirmed Nick Fry is to step down as the team's chief executive at the start of next month.
Fry, whose duties will be taken up by new director of motorsport Toto Wolff, is to continue to assist the team's commercial operations as a consultant until at least the end of 2014.
Fry has spent the last 11 years in F1 with the team in its various guises, initially as BAR, then Honda before the latter chose to quit the sport in 2008.
The 56-year-old, alongside current team principal Ross Brawn, then played a key role in resurrecting the team's fortunes in 2009.
As Brawn GP, the team won the constructors' and drivers' titles that year with Jenson Button at the helm, prompting a Mercedes buy-out as Brawn and Fry sold their shares, but retained their roles.
With his departure now imminent, Fry said: "I feel very privileged to have had the opportunity to work with our team for the last 11 years and remain extremely proud of the fact we took the team to its first race win and especially the double world championship in 2009.
"Equally important is the success of our commercial activities as we have managed to gain the support of some of the most important companies in the world, thereby building a strong foundation for the future success of the team.
"I believe the team offers the best sponsorship proposition in Formula One and I look forward to continuing to assist the team and its partners over the coming years."
The announcement continues Mercedes' current revolution that started with the appointment of Niki Lauda as non-executive chairman last year.
The three-times world champion then played an influential role in bringing Lewis Hamilton to the team.
Following that came the departure of former motorsport director Norbert Haug and subsequently Wolff's surprise arrival, given he was being groomed at Williams to succeed Sir Frank Williams as team principal.
And although Mercedes have yet to confirm the move, Paddy Lowe is to join the team at the end of the year.
Lowe was recently placed on 'gardening leave' by McLaren, ending his 19-year association with the Woking-based marque, with his last few years in the role of technical director.
Upon his appointment Wolff promised he would take his time to address the situation within the company, with Fry's exit seemingly part of the bigger picture.
Wolff said: "I would like to thank Nick for more than 10 years of service to the team in Brackley.
"The team enjoys a strong network of global, blue-chip partners who want to be associated with Mercedes-Benz in Formula One and we will work hard to retain our loyal partners, while also attracting new names to the sport in the future.
"I am pleased Nick will remain close to the team to support us in achieving these targets."