The Formula One team says in a statement that Haug, who is also Daimler's vice president, is ending his career "by mutual agreement" and that "preparations for the forthcoming season continue as planned."
Haug thanked the team for "tremendous achievements and wins. Unfortunately, with one victory in 2012 since founding our own Formula One works team in 2010, we couldn't fulfill our own expectations. However, we have taken the right steps to be successful in the future. Our team and our drivers will do everything to achieve these goals."
Mercedes won six F1 championships and 87 races since Haug took over on Oct. 1, 1990.