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Mattia Binotto has resigned from Ferrari as the team's principal and ends a 28-year-long association with the global brand. The Swiss-born F1 veteran was part of the team during the Michael Schumacher days as Ferrari reached unprecedented heights at the time. He was promoted to the team principal role in 2019 after taking over from Maurizio Arrivabene and after an early blip, Binotto was able to bring the team back to the front of the grid in 2022.
Ferrari finished the 2022 F1 season second in the championship, ahead of the mighty Mercedes. Despite his achievements, Binotto's association with Ferrari ends this year. In the team's press release, Binotto was quoted as saying:
“With the regret that this entails, I have decided to conclude my collaboration with Ferrari. I am leaving a company that I love, which I have been part of for 28 years, with the serenity that comes from the conviction that I have made every effort to achieve the objectives set. I leave a united and growing team."
He added:
"A strong team, ready, I’m sure, to achieve the highest goals, to which I wish all the best for the future. I think it is right to take this step at this time as hard as this decision has been for me. I would like to thank all the people at the Gestione Sportiva who have shared this journey with me, made up of difficulties but also of great satisfaction.”
What is Mattia Binotto's Net Worth?
Mattia Binotto was part of the sport's most prestigious team for 28 years and went through the ranks to rise to the top. He was earning a salary of around $3 Million per annum and had a net worth of around $5-6 Million.
Mattia Binotto's career highlights at Ferrari
Mattia Binotto joined the team in 1995 in the engine department and was part of the team during the successful Michael Schumacher era, where the German won five consecutive titles. In 2013, he became the head of the engine department and was one of the people responsible for the team's rather inefficient power unit in 2014.
Binotto's career saw progress and fame when he replaced James Allison as the CTO of the team in July 2016. The 2017 challenger from the Italian squad, although underpowered, was a thing of beauty in terms of its aerodynamic efficiency. The car had some of the more intricate work done on the sidepods and it gave the team a distinct advantage over the rest of the field, including Mercedes.
After multiple failed campaigns for Maurizio Arrivabenne, Mattia Binotto replaced him at the top of the Italian team in 2019 and led the team until he brought them back to the front in 2022.
