Jan.13 (GMM) The formula one career of Alex Tai has proved short lived, with Virgin announcing he is being replaced as team principal.

Before the new British team has turned a single wheel, Manor founder's John Booth has taken over the helm, it was confirmed in a media statement.

Virgin said the move is "part of the planned evolution of the team and continued development of the business", with Tai returning to Sir Richard Branson's well known company and his "passion for new ventures".

Another Manor veteran, Graeme Lowdon, becomes the CEO of Virgin Racing.

"We knew this day was coming but we are still sorry to see Alex move on from his executive duties," said chairman Etienne de Villiers.

He explained that the new appointments recognise "the complexity and challenges of the new business", while Virgin seeks to create "a team with the appropriate skills and experience to ensure its sustainable success".

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