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CEO Monisha Kaltenborn has taken over as team boss of the Sauber F1 team. Peter Sauber will remain with the team as an advisor but will no longer conduct day-to-day operations. Her promotion is effective immediately. She is the first ever Formula 1 team principal. 

"There have been a number of races I’ve been unable to attend - most recently the Japanese Grand Prix, where the team put in an excellent performance.

"I'm in no doubt that Monisha has all the necessary skills to be an outstanding team principal, and I’m equally certain she will ensure that the values underpinning the company live on. That is very important to me," said Sauber.

Kaltenborn became Sauber CEO in January 2010 and has been working with the Formula 1 teams since then. She started working at Sauber in 2000 running the legal department. 

"We are the fourth-oldest team in F1. To build up a project like this and keep it alive in a difficult environment is a tremendous achievement. I have set my sights high and am committed to taking the team forward as Peter Sauber would want and leading it on to success," said Kaltenborn. 

Peter Sauber will continue to be the President of the Board of Directors.