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Yates and his twin brother Adam turned pro in 2014 with Orica-GreenEdge, now known as Jayco-AlUla.
Simon, who spent 11 years with the Australian team before joining Jumbo, finished his career with 11 Grand Tour stage wins in addition to his two overall wins, while also winning the Tirreno-Adriatico stage race in 2020.
His crowning moment was a stunning performance in the penultimate stage of last year’s Giro to snatch the pink jersey and secure his second Grand Tour title.
It came on the same Colle delle Finestre climb where Yates cracked in 2018, ending his hopes of a first Grand Tour win.
Yates thanked Visma for the team’s “understanding and support for my decision to stop now.”
He added: “You gave me the opportunity to rewrite my history, and through trust and faith, we did it together.”
Representing Great Britain, Yates won the points race at the 2013 Track World Championships before embarking on a professional career on the road.
He has competed in the Tour de France eight times, with his best finish being fourth in the general classification in 2023, when his brother Adam finished third for Team Emirates.
“Simon was an exceptional climber and general classification rider who always delivered when it mattered most,” Nierman added.
“In the Giro, he reached his peak at a moment when almost no one expected him to be able to win anymore, which is what really sets him apart as a rider.”
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