McLaren Formula One racing team boss Ron Dennis will stand down after 28 years in March.
Dennis will hand over to chief executive Martin Whitmarsh, saying it's time for his successor to take over the job.
Dennis made the announcement at the McLaren factory after world champion Lewis Hamilton and team mate Heikki Kovalainen had unveiled their new MP4-24 car.
The Briton, who started out in Formula One as a mechanic with the Cooper team in 1966 and went on to win titles at McLaren with multiple champions like Ayrton Senna and Alain Prost, will remain a part owner of the Mercedes-powered team with a 15 percent stake.
