Ross Brawn will sever ties with Mercedes and step down as Team Principal at the end of the season, reports Sky Sports.
Brawn's future had been a recurring topic of discussion around the F1 scene, with many anticipating his eventual departure from the Brackley-based team, per Paul Weaver of the Guardian.
Sky Sports includes a team statement from Mercedes, highlighting its next steps:
Following an extended period of open discussion between the team's key stakeholders, leadership of the team will be handed over to Executive Director (Business) Toto Wolff and Executive Director (Technical) Paddy Lowe.
Brawn had been expected to step down over the next year or so, and hand over his leadership to Mercedes' two executive directors, Lowe and Wolff.
He had always made it clear his future depended on his overall control of the team, something which he seemed increasingly unlikely to maintain.
Mercedes edged ahead of Ferrari to finish second in the 2013 Constructors' standings, its highest finish since the team's return to the sport in 2010.
However, Brawn's outfit was unable to compete with Red Bull, finishing a distant 236 points behind, which will seemingly be his final act with the German team.
Mercedes had been keen for him to remain, especially with the dramatic shift to the rules and regulations scheduled for 2014.
The Independent describes how non-executive chairman Niki Lauda was in prolonged discussions to keep Brawn on, although without his desired level of leadership.
As this announcement confirms, those talks failed and Brawn will be elsewhere as F1 heads in a new direction.
Where that will be remains to be seen.
As Sky Sports reports, the most successful team leader in recent times has been linked with McLaren, Williams and even Ferrari; while a role with the FIA or retirement are also options.