( CNN ) -- Stefano Domenicali has resigned as team principal of the Ferrari F1 team following a poor start to the 2014 Formula One season . The 48-year-old , who has led the Italian team since 2008 , said in a statement on the Ferrari website Monday that the time had come for `` a significant change . '' Ferrari is the sport 's oldest and most successful team with 16 constructors ' championships but the Maranello-based manufacturer has struggled in recent seasons and is currently lying fifth after three races of the 2014 with just 33 points and no podium finishes . `` There are special moments that come along in everyone 's professional life , when one needs courage to take difficult and very agonising decisions , '' Domenicali said in a statement . `` It is time for a significant change . As the boss , I take responsibility , as I have always done , for our current situation . This decision has been taken with the aim of doing something to shake things up and for the good of this group of people that I feel very close to . '' Domenicali went on to thank the team , fans and Ferrari president Luca Di Montezemolo `` for having always supported me . '' In a separate statement , Di Montezemolo also expressed his gratitude to Domenicali for his dedication stretching over nearly a quarter of a century . `` I thank Stefano Domenicali , not only for his constant dedication and effort , but also for the great sense of responsibility he has shown , even today , in always putting the interests of Ferrari above all else , '' Di Montezemolo 's statement said . `` I hold Domenicali in esteem and I have watched him grow professionally over the 23 years we have worked together , I now wish him every success for the future . '' Marco Mattiacci , who is currently President and CEO of Ferrari North America , will replace Domenicali , Di Montezemolo said . After taking over from Jean Todt as team principal in 2008 , Domenicali made a successful start to his reign winning the constructors title in his first season . The seasons since have been less happy . A fourth place in 2009 was followed by two third place finishes before they ran Red Bull a close second in 2012 before falling back into third place last season . Despite having former world champions Kimi Raikkonen and Fernando Alonso at the wheel , Ferrari have made little impact in the opening three races this year and continue to struggle with the new engine and chassis regulations . Alonso managed to finish fourth in the opening two races of the season but a new nadir was reached at the Bahrain Grand Prix earlier this month . While Mercedes ' duo Lewis Hamilton and Nico Rosberg were recording a second successive one-two finish , Alonso and Raikkonen were scrapping around for single-figure points , eventually finishing ninth and 10th respectfully . Ferrari 's quest for a first podium of the season resumes at next Sunday 's Chinese Grand Prix .
Italian stepped down following Ferrari 's disappointing end to 2014 F1 season . ` ` It is time for a significant change . As the owner , I take responsibility , '' Domenicali says . Ferrari president Luca Di Montezemolo thanks 48-year - old for ` ` constant support and support '' invites Mattiacci , currently President and CEO of Ferrari North America , to take over as team boss .