The 51-year-old has led the Formula 1 team since its debut in 2005, overseeing a dominant era that included eight drivers' titles and six constructors' championships. Max Verstappen has claimed the last four drivers’ crowns, while Sebastian Vettel won four consecutive titles from 2010 to 2013.

Red Bull GmbH confirmed Horner's departure on Wednesday, naming Laurent Mekies as the new CEO of Red Bull Racing.

"Christian Horner has been released from his operational duties with immediate effect," the company said in a statement. "We thank him for his exceptional work and lasting contribution to Red Bull Racing."

"We would like to thank Christian Horner for his exceptional work over the last 20 years," added Oliver Mintzlaff, Red Bull's chief executive of corporate projects and investments.

"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 1.

Horner's exit follows a period of internal turmoil and a dip in the team's performance. Red Bull has won only two races this season as rivals McLaren have surged ahead. Meanwhile, Verstappen’s future with the team is uncertain, despite being under contract until 2028, with Mercedes reportedly expressing interest in signing him.

Horner had previously been cleared twice of misconduct allegations brought by a female employee.