Ross Brawn says the overhaul of the rules for next season was behind his decision to step down at Merc team boss at the end of this year.
On Thursday, Mercedes ended months of rumours when they confirmed that Brawn would leave the team at the end of this year.
The Englishman, who has been with Merc since the German manufacturer purchased his Brawn GP team after its Championship-winning 2009 campaign, will hand the reigns over to Toto Wolff Executive Director (Business) and Paddy Lowe Executive Director (Technical).
"In its different guises over the past six seasons, this team has delivered some of the most memorable moments of my career..."
"The most important consideration in my decision to step down from the role as Team Principal was to ensure that the timing was right for the team in order to ensure its future success," the 59-year-old stated.
"The succession planning process that we have implemented during this year means we are now ready to conduct the transition from my current responsibilities to a new leadership team composed of Toto and Paddy.
"Mercedes-Benz has invested significantly in both the personnel and infrastructure at Brackley and Brixworth. Thanks to the one-team approach we have implemented between the two facilities, the team is uniquely positioned to succeed in 2014 and I am proud to have helped lay the foundations for that success."
Brawn highlighted Formula One's changing regulations as the main reason for chosing to retire at the end of this year.
"2014 will mark the beginning of a new era in the sport. We therefore felt this was the right time to simultaneously begin a new era of team management to ensure that the organisation is in the strongest possible competitive position for the years to come.
"We can take pride not just in our on-track achievements but also in the organisation we have built at Brackley.
"In its different guises over the past six seasons, this team has delivered some of the most memorable moments of my career. Our second place in this season's Constructors' Championship is an important milestone on the road to championship success.
"I am confident that the future will hold just as much success for the team and will take real pride in having played my own part in those achievements."
Mercedes Confirm Ross Brawn Exit