Thirty-seven-year-old Schumacher retired as a driver after piloting his Ferrari to fourth place in the Brazilian Grand Prix last Sunday.

The German won a record seven world titles and was with Ferrari as driver from 1996 until he retired.

Todt earlier this week was named Ferrari's new chief executive officer, moving up from the position of general manager, which went to Amedeo Felisa.

"We are eager to utilize Michael's knowledge and expertise for our technical and strategic needs," Todt told a news conference attended by Schumacher and his co-driver of last season Felipe Massa. "It will not be necessary for him to be at our factory nor at our test sessions and races, but he will be an important interface for the all the important decisions," he added.

Schumacher said that he would leave it until December before fully getting to grips with his new responsibilities.

"For the moment I just want to get away from things and turn my attentions to my new life. After that I will see what I can do for Ferrari," he added.