SILVERSTONE, England — Aston Martin has announced a significant change in its management by replacing Mike Krack as team principal following a lackluster performance in the recent 2024 Formula 1 season.

The team declared on Friday that Krack, who has held the position since 2022, will transition into a new role as Chief Trackside Officer. In this capacity, he will concentrate on maximizing the performance of the car during races.

Andy Cowell, the current chief executive who previously played a pivotal role in Mercedes’ successful engine program throughout the 2010s, will take on the dual responsibilities of team principal. Cowell joined Aston Martin last year and has served as chief executive since October. Moving forward, Krack’s team will report directly to Cowell, along with the personnel based at the Aston Martin headquarters in England.

Aston Martin explained that these adjustments aim to provide “clarity of leadership and promote a more streamlined structure” within the organization.

The team finished fifth in the constructors’ standings for both the 2024 and 2023 seasons. Nonetheless, the organization aspires to evolve into a championship-contending team, which has led many to view this past season as a regression, especially as it fell behind competitors like McLaren and Ferrari.

Although Fernando Alonso achieved eight podium finishes for Aston Martin in 2023, the team’s performance in 2024 saw a decline, with its highest finish being a fifth place at the Saudi Arabian Grand Prix.

This restructuring occurs in anticipation of the arrival of renowned car designer Adrian Newey in March. Newey, who departed from Red Bull last year, will assume the role of “managing technical partner.”