The management shakeup over at Ferrari is almost complete, with the company ending speculation by announcing that Michael Schumacher would stay on as a special assistant to Jean Todt who reigns in as the new CEO. Todt replaces outgoing CEO Luca di Montezemolo who has moved on to become the chairman of Fiat. However, he’s also going to fill in for Ross Brawn as team principal, while Brawn is away on leave.

As for the seven-time World champion, he mentioned that he would take his time before making any decision about his future role. "I will take a break in the coming months and then I will be more clear about what I want to do. Ferrari has left me free to decide and has given me the time I need to make up my mind."

Michael Schumacher farewelled thousands of Ferrari fans at Monza on Sunday where he took to the track with several other team members. After running his F1 car through one final lap alongside Felipe Massa and test drivers Luca Badoer and Marc Gene, he with Todt then rode together in a Ferrari road car. He’s expected to play a key role at Ferrari, but more of a consultant type role rather than a dedicated position. One suggestion is that he help manage or coach future Formula One drivers, but after a long a deserved rest of course.