The Renault F1 team has announced that Eric Boullier, Team Principal since 5 January 2010, will take over the role of Managing Director with immediate effect following the departure of Bob Bell.

"We would like to thank Bob Bell for his contribution to the performance of the team and for helping see us through a period of transition since Genii Capital became a shareholder in the Renault F1 Team," said Gerard Lopez, Chairman of the Renault F1 Team. "We are entrusting the post of Managing Director to Eric Boullier and we have every confidence that, under his leadership, we will achieve our racing objectives. Throughout the 2010 season, we have been assessing what is required to continue improving our level of competitiveness and we believe we are well positioned for the challenges ahead."

"Since the beginning of the season, the team has demonstrated its ability to react to a need for change," said Boullier. "The results of the tremendous efforts made have been immediately apparent on the race track. Today, we have a competitive car and an incredibly motivated team. I am proud of the trust being placed in me to continue this good work, and I will make every effort to ensure the team returns to the front of the grid as soon as possible."