Oliver Mintzlaff focused on the achievements of outgoing Red Bull Racing boss Christian Horner in a statement on the 51-year-old's exit. Horner has been removed from his positions as team principal and chief executive of the Formula 1 team with immediate effect, it was confirmed on Wednesday morning. Horner was hired by Red Bull back in 2005 to lead the team that they have just entered into F1, having bought out the struggling Jaguar outfit. Since then, Red Bull Racing has won eight drivers' titles and six constructors' championships, most recently in 2024 when Max Verstappen won his fourth-straight crown. And that was the focus of Mintzlaff, chief executive of corporate projects and investments at Red Bull GmbH – the man in overall charge of all the company's sporting activities including F1 – as he issued a statement on the bombshell news. He said: "We would like to thank Christian Horner for his exceptional work over the last 20 years. With his tireless commitment, experience, expertise and innovative thinking, he has been instrumental in establishing Red Bull Racing as one of the most successful and attractive teams in Formula 1 . Thank you for everything, Christian, and you will forever remain an important part of our team history." Sign up to our free weekly F1 newsletter, Pit Lane Chronicle, by entering your email address below so that every new edition lands straight in your inbox! No official reason has yet been given regarding the decision to remove Horner from his roles. But it comes at a time when the team's performance is in decline – Red Bull are fourth in the constructors' championship after Sunday's British Grand Prix and 288 points adrift of runaway leaders McLaren . In the drivers' standings, Verstappen looks increasingly likely to see his winning streak end. He is third but 69 points behind leader Oscar Piastri , while Silverstone winner Lando Norris is also comfortably ahead as McLaren continue to dominate. Verstappen has also been linked heavily with a move to Mercedes , while his father Jos is a known opponent of Horner. It may be that Red Bull has acted to try to ensure they do not lose their star driver, though this has not been confirmed. Replacing Horner in his chief executive duties is Laurent Mekies, who has been promoted from his previous role as team principal at sister team Racing Bulls. The Frenchman replaced previous chief Franz Tost at the end of the 2023 campaign, joining from Ferrari . Mekies said: "The last year and a half has been an absolute privilege to lead the team with Peter [Bayer, Racing Bulls CEO]. It has been an amazing adventure to contribute to the birth of Racing Bulls together with all our talented people. The spirit of the whole team is incredible, and I strongly believe that this is just the beginning. It was also confirmed that Alan Permane has been promoted from sporting director to team principal at Racing Bulls. "Alan is the perfect man to take over now and continue our path. He knows the team inside out and has always been an important pillar of our early successes," Mekies added.