Christijan Albers has resigned from his position as CEO of Caterham F1 Team after just over two months in the role.

"Christijan Albers has resigned from his position as CEO for Caterham F1 Team," the team said in a statement. "Manfredi Ravetto is taking over his current duties with immediate effect."

When Tony Fernandes sold the Caterham's F1 operation to a consortium of Swiss and Middle Eastern investors - advised by former F1 team principal Colin Kolles - at the start of July, Albers was installed to deal with the day-to-day running of the team. However, he has now cited "private reasons" as the catalyst for his departure.

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"Over the past months I have dedicated all my energy to ensure the takeover of the team would go as smoothly as possible and to achieve the best possible result for our investors, sponsors and all the people involved with Caterham F1 Team," Albers said. "As such I worked tirelessly to reconstruct the team while, at the same time, making technical updates on the car. In doing this we created both a better foundation for the team's future and achieved significant improvements on the speed of the car.

"Due to private reasons and in order to be able to spend more time with my family, I will resign from my position as CEO of Caterham F1 Team. I wish the team all the best in the future."

Ravetto has been assisting Albers since the takeover and said it was clear the two of them had been able to make progress.

"Christijan has been an asset to the team since the moment he joined," Ravetto said. "It's been a challenging last few months, but we have moved forward together and we want to thank him for his hard work and commitment to the team. We wish him the best for the future."