Ferrari F1 Chief Domenicali Resigns

Stefano Domenicali, who has headed Ferrari SpA's Formula One team since 2008, resigned on Monday following the team's abysmal performance in the first three races of the season.

He has been replaced by Marco Mattiacci, president and CEO of Ferrari North America.

Domenicali succeeded John Todt and led Ferrari to a constructors' championship in his first year as team principal. But the team hasn't won that title or the driver's championship since. So far this year Ferrari is in fifth place in the constructors' competition behind Mercedes, Force India, McLaren and Red Bull Racing.

Ferrari drivers Fernando Alonso and Kimi Raikkonen have yet to reach the podium this year. At the most recent race in Bahrain, Ferrari Chairman Luca Montezemolo left the track in disgust midway through the contest after Alonso reported his car wasn't powerful enough to keep up with the leaders. He and Kimi Raikkonen finished ninth and 10th, respectively.