Jarno Trulli admitted he was 'not displeased' to be ousted from Hingham-backed Caterham ahead of the 2012 season.

The Italian veteran's replacement by Vitaly Petrov was confirmed on Friday – signalling the likely end to 37-year-old Trulli's Formula One career.

Trulli admitted himself that Caterham's move to instal Petrov as Heikki Kovalainen's team-mate had as much to do with financial factors as driving talent – and come Monday the Norfolk outfit duly announced a new partnership with Russia's largest petrochemical agent Sibur, in turn continuing the company's partnership with ex-Lotus Renault man Petrov.

'Personally I'm not displeased,' Trulli said of his Caterham exit after pulling off the team's best result last season – the 13th finish that bagged their all important successive 10th place finish in the constructors' championship.

'I was prepared for a possible divorce from Caterham in the knowledge that the difficult economic situation would have pushed the team to find an adequately supported driver.

'Small teams have certain needs. I hope that, with Petrov's contribution, all the people who work there can have a more serene future.'

Trulli's departure from the F1 grid leaves the sport without an Italian driver for the first time in more than 40 years – but the ex-Caterham man is not surprised.

'It is a shame… I'm sorry but the problem is not mine,' he said. 'Others must take responsibility for this impoverishment, for a situation that after all did not begin yesterday and over which no action has been taken.

'In Italy there's no system that helps drivers emerge at high level, so it's normal it ends up in situations like this. There are talents but without anyone's support they are hopeless.'

As for Trulli's own career, he added: 'I own a wine production company and a hotel in Switzerland so I'm quite busy. But my job is racing and that's what I count on keeping doing, either in Formula One or elsewhere.'