Norbert Haug will leave his post as the head of Mercedes-Benz motorsport at the end of the year.
Haug has held the role since 1990 and has led Mercedes in various different types of motorsport and took charge as Mercedes returned to Formula One as a constructor in 2010.
However, his contract comes to an end at the close of the month and will not be renewed, with the 60-year-old leaving "by mutual agreement".
"Norbert Haug was the face of the Mercedes-Benz Motorsport programme for more than 20 years," said Dr. Dieter Zetsche, Head of Mercedes-Benz Cars and CEO of Daimler AG.
"For me, he put his stamp on a whole era and, as a highlight, he was responsible for the successful comeback of the Silver Arrows to Formula One. In the name of the Board of Management and the whole motorsport family, I would like to thank Norbert for his extraordinary commitment to the three-pointed star."
For his part, Haug admitted he was disappointed with the results that Mercedes had achieved since their return but that there was reason to be optimistic about the future.
"I would like to thank the best car company in the world for more than 22 years, which never had a single moment without passion for me," said Haug.
"I particularly wish to thank the Board for the trust and freedom they have always given me with all my activities. Since 1991, we had tremendous achievements and wins, for which I want to thank all of my colleagues. Unfortunately, with one victory in 2012 since founding our own Formula One works team in 2010, we couldn't fulfil our own expectations. However, we have taken the right steps to be successful in the future. Our team and our drivers will do everything to achieve these goals."