Ron Dennis has handed over complete control of McLaren Racing to team principal Martin Whitmarsh, ending his 43-year involvement in Formula 1.
The 61-year-old stepped down as world champion Lewis Hamilton's team boss on 16 January, but stayed involved in F1.
However, Dennis will now concentrate solely on McLaren's Automotive company.
"I am the architect of this restructure of McLaren. I have no qualms about leaving Martin to look after all matters connected to F1," said Dennis.
"I feel enormously enthused about the prospects for both the McLaren Group and for McLaren Automotive."
As executive chairman of McLaren Automotive, Dennis will lead the group's project to develop a range of pure McLaren sports cars, with the launch date for the first model set for 2011.
606: DEBATE
Pity his recent years have been clouded in controversy as he really has given F1 a hell of a lot
Rufus McDufus
And with McLaren due to face the sport's governing body, the FIA, on 29 April charged with breaching the International Sporting Code, Dennis admits his departure will be welcomed by two of F1's biggest names.
"I admit I'm not always easy to get on with. I admit I've always fought hard for McLaren in Formula 1," he said.
"I doubt if (FIA president) Max Mosley or (F1 supremo) Bernie Ecclestone will be displeased by my decision."
However, Dennis, who first took over as McLaren team principal in 1981, insisted at a news conference that the timing of his departure from F1 was "purely coincidental" and not linked to the team's upcoming FIA hearing.
