Williams finished bottom of the constructors’ championship and their drivers, Alex Albon and Nicholas Latifi, came 19th and 21st in the F1 standings.

A new team principal will be named “in due course”, Williams say. Technical Director FX Demaison will also leave his post after joining in 2021. 

F1 2023 driver line-up - who will underachieve?

Capito said: “It has been a huge privilege to lead Williams Racing for the last two seasons and to lay the foundations for the turnaround of this great team. I look forward to watching the team as it continues on its path to future success.”

Matthew Savage, Chairman of Dorilton Capital, said: “We would like to thank Jost for his hard work and dedication as we embarked on a major transformation process to begin the journey of reviving Williams Racing. We’re grateful that Jost postponed his planned retirement to take on this challenge and now he will pass the reins on for the next part of this staged process. We would also like to thank FX for his contribution and wish him all the best for his future as he moves on.” 

Williams will make a key change to their F1 2023 driver line-up, replacing Latifi with rookie Logan Sargeant.