Formula One managing director Ross Brawn said on Monday he was heading into retirement with the sport on a new path and as strong as it has ever been.

The 68-year-old Briton, one of the most respected and successful figures in Formula One and whose last race was this month's Abu Dhabi season-ender, said it was time to pass the baton to others.

"I’ve loved almost every minute of my 46-year career and I’ve been fortunate to have worked with many great teams, great drivers and great people. I wouldn’t have changed a thing," he wrote on the Formula One website.