Lauda takes over as Jaguar's team principal with immediate effect.

Rahal has lasted less than a full season at Jaguar after being brought in during a wave of publicity as bosses at Ford looked for a quick racing return on their investment at the British-based race team.

Rahal said: "It has been a tremendous privilege to play a key role in the formative stages of the development of Jaguar Racing.

"I have truly enjoyed the time I have spent with the many talented people at Jaguar Racing and I wish them all the best for the future."

Lauda, the chief executive officer of the premier performance division which runs all race teams for Jaguar's parent company Ford, commented: "I would like to thank Bobby for the contribution he has made to Jaguar Racing. Following this development my focus will be 100% on the Jaguar F1 project."