Silverstone's owners have confirmed the departure of the circuit's managing director Patrick Allen and announced plans to put a permanent management team in place.
It was claimed last month that Allen had been placed on garden leave because he was too closely associated with one of the parties interested in buying the Northamptonshire track, home of the British Grand Prix.
But Allen, who oversaw the return of Silverstone Circuits Limited to profit for the first time in a decade, has said any allegations against him have been withdrawn and his departure is by mutual consent.
Allen had been working on a consultancy basis and the British Racing Drivers Club, the owners, want to put a permanent structure in place.
A statement from the BRDC read: "Patrick's contract with the BRDC has always been on a consultancy basis, with the purpose of reinvigorating the customer proposition and establishing an effective long-term business strategy.
"With these foundations now in place, permanency is required in Silverstone's leadership to take that strategy forward.
"The BRDC board fully acknowledges Patrick's contribution to SCL and is pleased to have agreed terms to enable him to step aside and a new skilled team to continue to build on his success."
Allen said: "I have greatly enjoyed working at SCL. Some of you may have heard, or seen in the press, some rumours about my departure.
"It is true that some allegations were made against me but, for the avoidance of doubt, these have all been withdrawn and I am pleased to have concluded mutually agreeable terms with the BRDC."
Source: PA
