Oct. 4 (Bloomberg) -- Michael Schumacher, Formula One’s seven-time champion, will quit the auto racing series after this season.
Schumacher hasn’t won a race since making a comeback in 2010 with the Mercedes team, which said Sept. 28 it was hiring Lewis Hamilton to replace him next season. Schumacher said in a statement on his website today he won’t seek a berth on another team.
“I have decided to retire from Formula One at the end of the season, although I am still able to compete with the best drivers of the world,” the 43-year-old said in the statement. “This is something that makes me proud, and this is part of why I never regretted my comeback.”
Schumacher won titles with the Benetton team in 1994 and 1995 and took five consecutive championships with Ferrari from 2000 to 2004. He is 12th in the standings after 14 of 20 races this season, 50 points behind Mercedes teammate Nico Rosberg, who is seventh overall.
There are six races left this season, with the next one in Suzuka, Japan, on Oct. 7. Ferrari’s Fernando Alonso leads the standings by 29 points from Red Bull’s Sebastian Vettel.
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