Ferrari chairman Luca Di Montezemolo will step down from his role next month after almost 23 years in charge.

He has been under pressure due to the team's poor performances in the F1 season so far and they have not won a drivers' or constructors' championship since 2008.

Fiat, who own Ferrari, will replace Di Montezemolo with their chief executive, Sergio Marchionne.

Former team principal Stefano Domenicali resigned in April.