Williams has announced that Jost Capito will stand aside as CEO and team principal.
Capito has spent two years in charge at the Grove-based outfit following the acquisition of the team by Dorilton Capital midway through 2020.
The team will also see the departure of technical director Francois-Xavier Demaison, who joined in 2021.
Capito said: “It has been a huge privilege to lead Williams Racing for the last two seasons and to lay the foundations for the turnaround of this great team. I look forward to watching the team as it continues on its path to future success.”
Dorilton chairman Matthew Savage added: “We would like to thank Jost for his hard work and dedication as we embarked on a major transformation process to begin the journey of reviving Williams Racing.
"We’re grateful that Jost postponed his planned retirement to take on this challenge and now he will pass the reins on for the next part of this staged process.
"We would also like to thank FX for his contribution and wish him all the best for his future as he moves on.”
Capito oversaw a step forward for Williams during his tenure, although the championship standings at the end of this year fail to reflect this.
The team finished at the foot of the table, but secured multiple points finishes for the second successive season having gone since 2018 without scoring.
Williams will announce a new team principal and technical director in due course.