According to the Frenchman, who will continue to attend races "for the time being", the seven-time world champion's unique understanding of racing makes Schumacher the perfect muse in matters of driver selection, sporting decisions and even the direction of the firm's road car plans.
"Michael has always been interested in following young drivers," said Todt at Ferrari's end-of-season celebrations at Monza.
"I remember Michael talking to me about Felipe [Massa] when he still was in lesser series.
"He also talked to me about Kimi [Raikkonen] before he entered F1 so he has a unique eye, and it will be important to allow us to make choices on the drivers of the future and also to follow the current drivers."
Todt added that Ferrari wanted to take advantage of the wisdom and experience gleaned over 11 years of competition together at the highest level, in which Schumacher and the team amassed 11 drivers' and constructors' titles.
"Michael is one of the greatest drivers in the history of motor racing," he said.
"He has a unique knowledge of racing, so we'll try to take advantage of his knowledge in the best way to take choices for the team at a sporting and technical level.
"He won't have any particular obligation to be present neither in the factory nor at the races nor at private tests."
But Schumacher said that while he was happy to work with Ferrari in the future, right now all he wanted was a break before deciding on his next career step.
"I don't think now there is any need to specify in concrete terms exactly how and what [I will do]," he said.
"I am very happy to be involved in these ways [described by Todt], but I look forward first of all to get this reset I was talking about since announcing my retirement.
"I wanted to get some distance from everything in a way and this distance I will take through the next months and then I will have a much more clear point of view on exactly what I would like to have.
"I just want to first of all experience a different kind of life and then I want to understand what exacty is what I want."
Ferrari's president Luca Montezemolo said at the press conference that "Michael will be a super assistant to Jean Todt."
"I'm very happy that Michael will continue to work with us and to share our choices and contributing to them and this is important," he added.
"Even if he won't be inside the cockpit, his experience and his professionalism will be very useful for the future of Ferrari."(itv/f1)
Good to see him back again
but the question is, will Schumacher be in that cockpit racing again and i dont see it happening in the future, unfortunately.
