Bernie Ecclestone has stepped down from the board of the company which runs F1 though he will continue to run the business on a day-to-day basis.

A brief statement issued by Delta Topco reads:

"After discussion with the board, Mr Ecclestone has proposed, and the board has agreed, that until the case has been concluded, he will step down as a director with immediate effect, thereby relinquishing his board duties and responsibilities until the case has been resolved.

"The board believes that it is in the best interests of both the F1 business and the sport that Mr Ecclestone should continue to run the business on a day to day basis, but subject to increased monitoring and control by the board.

"The approval and signing of significant contracts and other material business arrangements shall now be the responsibility of the Chairman, Peter Brabeck-Letmathe, and Deputy Chairman, Donald Mackenzie.

"Mr Ecclestone has agreed to these arrangements."

The news comes in the wake of this morning's confirmation that Ecclestone is to stand trial in Germany for paying an alleged bribe to former banker Gerhard Gribkowsky. This comes at a time when he is still awaiting the verdict of a trial in London relating to the sale of F1 to CVC.

Chris Balfe

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READERS COMMENTS

1. Posted by GoodPublicity, 19/01/2014 6:06

"Only in Formula 1 - or perhaps the IOC or FIFA - could the CEO (or equivalent) avoid being suspended pending the resolution of such a serious legal proceeding."

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2. Posted by Skidmarks, 17/01/2014 0:05

"Not surprising in the circumstances.
Considering what F1 was like before him and looking at the alternatives, hopefully he will be back in full control before long."

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3. Posted by The Canadian, 16/01/2014 21:32

"Sounds alot like The-Putin-"

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Ecclestone steps down from F1 board

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