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Audi has appointed former Ferrari Team Principal Mattia Binotto as the new head of its Formula 1 project, effective August 1. Binotto, 54, will assume the role of Chief Operating and Chief Technical Officer, overseeing the team's operations from the Sauber factory in Hinwil, Switzerland.The move comes as part of a restructuring within Audi's F1 project, with former McLaren Team Principal Andreas Seidl and Audi executive Oliver Hoffmann departing. Binotto's appointment is seen as a significant coup for Audi, given his extensive experience in Formula 1.Binotto joined Ferrari in the mid-1990s and served as Chief Technical Officer before being promoted to Team Principal in 2019. He left the role in 2022 after three years, during which time Ferrari achieved several race wins and podium finishes.Audi CEO Gernot Dollner expressed his delight at Binotto's appointment, stating that his "extensive experience of more than 25 years in Formula 1" will be invaluable to the team. Dollner also explained that the restructuring aims to streamline management structures, reduce interfaces, and improve decision-making processes.Nico Hulkenberg, who will leave Haas at the end of the season, has been confirmed as the first driver for Audi's F1 team. The German driver described the move as "interesting" and "very exciting."The future of current Sauber drivers Zhou Guanyu and Valtteri Bottas remains uncertain beyond the current campaign.