Flavio Briatore says Ferrari were right to "shake things up" earlier this week by parting ways with Stefano Domenicali.
Although Ferrari entered this year's Championship promising race wins and World titles, the Italian has yet to even deliver a single podium in three races.
This led to a huge change at the very top when, on Monday, team boss Stefano Domenicali announced that he was walking away from Ferrari and from F1.
The Italian, who has been in charge since 2008, will be replaced by Ferrari's North American CEO Marco Mattiacci.
"They needed to shake things up," Briatore told Gazzetta dello Sport of Monday's announcement.
"You can't keep saying 'we're looking ahead to next year'.
"Stefano is a great worker, but F1 is a competition and results are what matter, and they have fallen short of Ferrari's expectations in recent years."
The Italian, who is still involved in Fernando Alonso's management, added that Ferrari should not be issuing excuses for failing when they have a driver of Alonso's calibre in te team.
"There can be no excuses when you have a driver like Alonso, who is one of the best on the grid," he said.
"The engineers can't say 'if only we had a better driver, we'd be stronger'."