Todt had stepped down as CEO of Ferrari last year but remained with the company in various roles. However, at a meeting of the board on Tuesday, chairman Luca di Montezemolo said that Todt was leaving Ferrari entirely.
Di Montezemolo paid tribute to the efforts of Todt, who helped make the team a multiple championship-winner after originally joining it in 1993.
"Jean Todt has been one of the leading protagonists of the Ferrari story of the last 15 years," declared Montezemolo. "Skill and passion have always characterised his work and have won him my personal respect and affection, the one of the Company as a whole and of the Prancing Horse enthusiasts everywhere.
"I would like to wish him the very best for the future which I hope will prove extremely satisfying both personally and professionally.
"All of these years we've spent together - victories and tough times included - have forged a link between Jean Todt and Ferrari that will never be broken."
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