Oracle Red Bull Racing announced on Wednesday that it fired Christian Horner and appointed Laurent Mekies as its team principal, effective immediately.

"We would like to thank Christian Horner for his exceptional work over the last 20 years. With his tireless commitment, experience, expertise and innovative thinking, he has been instrumental in establishing Red Bull Racing as one of the most successful and attractive teams in Formula 1," the Formula One team's statement read.

The announcement came about a year after Horner was accused of inappropriate behaviour towards a female colleague, which he denied. Red Bull conducted an internal investigation and cleared Horner of any misconduct. Later, it was reported that the employee took the case to court.