Seven-time Formula One world champion Michael Schumacher is said to be in a stable condition following a second round of surgery yesterday to treat hemorrhaging of his brain caused by a skiing accident in the French Alps on December 29, 2013. The accident, which saw Schumacher fall and hit his head, took place at the Meribel ski resort where the F1 ace was on holiday with family.

The 44-year-old, who recently retired from F1 racing and was aiding Mercedes-Benz in car development, was taken to Grenoble University Hospital Center in France where he was put in an induced coma so doctors could performance surgery to treat the hemorrhage. While initially in a critical condition, Fox News is reporting that Schumacher's manager Sabine Kehm said today that that her client's condition was now stable.

"The good news for today is ... there's no significant changes," Kehm is reported to have said. "His condition remains stable this morning."

Kehm is also reported to have said it was a good turn of events but that it was still too early to predict the outcome as her client remains in an induced coma.

In an email to The Associated Press shortly after Sunday's accident, Kehm said Schumacher was wearing a helmet when the accident occurred and was with his 14-year-old son at the time. He was also said to be alert and speaking when reached by rescuers.

The area where he was skiing is littered with trails that run through a wide area with some very steep sections, though it’s not described as extreme. Doctors said that without his helmet, Schumacher would likely have been killed. At present, they remain focused on his current condition and are refusing to give a prognosis.

Orthopedic and trauma surgeon Gerard Saillant, who treated the F1 ace when he broke his leg in a crash at the 1999 British Grand Prix at Silverstone, is on hand only for support and is not involved with the current treatment. Schumacher has also experienced a motorcycle accident in the past where he suffered neck and spine injuries.

In a statement, Schumacher's family--his wife Corinna and children Gina-Marie and Mick--thanked doctors for their efforts and also thanked fans for the outpouring of support.

“We would like to thank the medical team, we know will do anything to help Michael,” the statement read. “We also thank the people in the world who have expressed their sympathy and sent their best wishes for the recovery of Michael.”