Nov.9 (GMM) Caterham on Thursday confirmed reports Cyril Abiteboul has replaced Tony Fernandes as team principal.

Having announced a major new sports car venture with Renault, Malaysian entrepreneur Fernandes this week announced he is stepping down from the top of his F1 team.

We tipped Abiteboul, engine supplier Renault's former deputy managing director, to replace him.

"He takes over during a season when we have not yet fulfilled our potential, but at a time when we have everything in place to help us do so," said Fernandes.

At 35, Frenchman Abiteboul is now F1's youngest team boss.

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