F1 supremo Bernie Ecclestone has stepped down from the board of the company that runs the sport, it has been announced.

The decision comes after prosecutors in Germany said today that they would be pressing ahead with the bribery case against the 83-year-old [see separate story - HERE].

Ecclestone will though remain in control on a 'day-to-day basis', albeit subject to 'increased monitoring and control from the board'. He has also pledged to 'vigorously defend the case'.

A statement put out by Delta Topco Limited read:

"After discussion with the Board, Mr Ecclestone has proposed and the Board has agreed that until the case has been concluded, he will step down as a director with immediate effect, thereby relinquishing his board duties and responsibilities until the case has been resolved.

"It is in the best interests of both the F1 business and the sport that Mr Ecclestone should continue to run the business on a day to day basis, but subject to increased monitoring and control by the Board. Mr Ecclestone has agreed to these arrangements. The approval and signing of significant contracts and other material business arrangements shall now be the responsibility of the Chairman, Mr Peter Brabeck-Letmathe, and Deputy Chairman, Mr Donald Mackenzie."

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