CAMS is saddened to learn of the passing of Formula 1 great Niki Lauda.

Lauda was a terrific ambassador for motor sport and played key roles at some of the biggest teams in the sport, most recently with Mercedes’ Formula 1 set up.

His family confirmed his passing with a statement issued on Tuesday.

“With deep sadness, we announce that our beloved Niki has peacefully passed away with his family on Monday,” the statement read.

“His unique achievements as an athlete and entrepreneur are and will remain unforgettable, his tireless zest for action, his straightforwardness and his courage remain.

“A role model and a benchmark for all of us, he was a loving and caring husband, father and grandfather away from the public, and he will be missed.”

CAMS CEO Eugene Arocca paid tribute to Lauda’s passion for motor sport.

“Niki was a terrific ambassador for motor sport and he will be sorely missed by us all,” Arocca said.

“On behalf of everyone at CAMS, we pass on our deepest sympathies to Niki’s family and friends, including many of those here in Australia who have had the pleasure of meeting and knowing Niki over many years.”