Renault part with F1 team principal Vasseur
LONDON (Reuters) - Renault have parted company with Formula One team principal Frederic Vasseur with immediate effect, the French manufacturer announced on Wednesday.
Renault, who took over the failing Lotus team at the end of 2015 and finished ninth of 11 teams last year, said the move was by mutual consent.
"Both parties remain committed to maintaining the good working relationship they have enjoyed and expect this to take a new form sometime in the future," the statement said.
Renault Sport Racing and the team, who have Germany's Nico Hulkenberg and Britain's Jolyon Palmer as drivers, will continue to be managed by president Jerome Stoll and managing director Cyril Abiteboul.
(Reporting by Alan Baldwin; Editing by John O'Brien)