Formula One (F1) racing team Red Bull has sacked its boss Christian Horner (pictured) after 20 years as team principal.
The shock announcement of the man who guided Red Bull Racing to its most successful period comes as the team’s fortunes dive this season.
Horner, 51, was replaced on Wednesday by Laurent Mekies, CEO of Red Bull’s Racing Bulls team.
"We would like to thank Christian Horner for his exceptional work over the last 20 years," Red Bull's CEO of corporate projects and investments Oliver Mintzlaff said in a statement.
"With his tireless commitment, experience, expertise and innovative thinking, he has been instrumental in establishing Red Bull Racing as one of the most successful and attractive teams in Formula One.”
Horner had been CEO of Red Bull Racing since the privately-owned Austrian company took over the Jaguar team and entered F1 as a constructor in 2005.
The team won eight Drivers' World Championships and six Constructors' titles under Horner but have struggled this season, sitting fourth in the constructors' standings.
Four-time F1 champion Max Verstappen has won just two of the 12 races and is third in the drivers' championship this season amid talk he may join another team.
Horner was the highest-paid team principal in F1 with an annual salary of about £8.92 million (US$10 million) and is married to former Spice Girls singer Geri Halliwell, widely known as "Ginger Spice".
Although Red Bull generates substantial revenue from F1, the profits are modest because of the high costs of the sport.
It has been reported that although revenue increased £30 million to £307 million in 2023, profits fell £2 million to £1.2 million.
