YEONGAM, South Korea - Monisha Kaltenborn has become Formula 1's first female team principal after taking the helm at Sauber from founder Peter Sauber.The Swiss-based team said in a statement at the Korean Grand Prix that Kaltenborn, who was previously chief executive, would take over Sauber's duties during race weekends.Sauber will continue to be president of the board of all Sauber group companies and retain responsibility for strategic direction.Apart from being the first woman in the role, Kaltenborn is the second Indian-born principal in the 12-team sport after Force India's Vijay Mallya.FIRST FOR F1Sauber in a statement: "We decided a long time ago that Monisha would take over from me but we left the timing open. Now is a good time for both of us, so this is the right moment to pass on the baton."There have been a number of races I've been unable to attend, most recently the Japanese Grand Prix, where the team put in an excellent performance."I'm in no doubt that Monisha has all the necessary skills to be an outstanding team principal, and I'm equally certain she will ensure that the values underpinning the company live on. That is very important to me," he said.Sauber, who made their F1 debut in 1993, have had four podium finishes in 15 races so far in 2012 with Kamui Kobayashi finishing third at his home Suzuka circuit in October 2012.The team are currently sixth overall.Driver Sergio Perez, has had three podium finishes and is joining McLaren at the end of 2012.Kaltenborn joined Sauber in 2000 to run the legal department and took over as CEO in 2010. Sauber transferred a third of the company shares to her in 2011.Kaltenborn said: "We are the fourth-oldest team in F1. To build up a project like this and keep it alive in a difficult environment is a tremendous achievement."I have set my sights high and am committed to taking the team forward as Peter Sauber would want and leading it on to success."