BBC Sport revealed on Saturday that Cowell has been removed from his current leadership role, following a disagreement between the two over the running of the team and the design of the 2026 car, according to insiders.
The statement said Newey, who joined Aston Martin in March as managing technical partner, will guide the technical team, including trackside operations of the car.
The move came through the realization that Newey’s expertise and long experience – winning 12 driver and 13 constructor championships with Williams, McLaren and Red Bull – makes him the de facto authority in the team.
In that case, making him team principal is a logical step and Newey will be Aston Martin’s fourth team principal in four years, following Ottmar Szafnar, Mike Krack and Cowell.
Team owner Lawrence Stroll said in a statement: “Andy Cowell has been a great leader this year. He has been focused on building a world-class team and making them work well together, as well as fostering a culture that puts the race car at the center of what we do.
“This leadership change is a mutual decision that we have reached in the best interest of the team. We all look forward to continuing to work with him in his new capacity.”
Stroll said Newey’s new position “will enable him to make full use of his creative and technical expertise”.
Newey said: “Over the past nine months, I have seen great individual talent within our team.
“I look forward to taking on this additional role as we put ourselves in the best possible position to compete in 2026, where we will face an entirely new situation with Aston Martin now being a works team, combined with the considerable challenge posed by the new regulations.
“Andy’s new role, focusing on the integration of the new power-unit with our three key partners, will be vital in this journey.”
Stroll had been considering a leadership change for some time, and had contacted a number of senior F1 figures, including former McLaren and Sauber boss Andreas Seidl, current head of the Audi F1 project Mattia Binotto and his former CEO Martin Whitmarsh.
Former Red Bull team principal Christian Horner is also pushing for a role at Aston Martin, and wants a shareholding.
Team sources say Horner, who is free to work for another team from next summer after being sacked by Red Bull in July, will not be offered a role at Aston Martin.
However, Newey is said to have given his former Red Bull colleague a tour of the Aston Martin factory in the dark on Tuesday night.
The statement said former Mercedes F1 engine boss Cowell had “implemented much-needed structural changes to support the transition to a full works team in readiness for the new regulations in 2026”.
Cowell said in the statement that after “laying the foundation” for the Navy, it was “the right time for me to take on a different role”.
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