Last week, the magazine Die Aktuelle featured a story claiming to be Schumacher's first interview since his 2013 skiing accident.
The magazine's front cover featured a picture of a smiling Schumacher promising a "first interview". Inside it went on to present a story with mock quotes generated by AI technology, with the tagline "it sounded deceptively real".
The jarring piece upset the Schumacher family, which threatened to take legal action against Die Aktuelle, a weekly magazine published by the Funke media group.
The publishers have now responded by removing editor-in-chief Anne Hoffmann from her position and issuing an apology to the Schumacher family.
"This tasteless and misleading article should never have appeared," Funke managing director Bianca Pohlmann wrote in a statement.
"It in no way meets the standards of journalism that we and our readers expect from a publisher like Funke.
"As a result of the publication of this article, immediate personnel consequences will be drawn. Die Aktuelle editor-in-chief Anne Hoffmann, who has held journalistic responsibility for the paper since 2009, will be relieved of her duties as of today."
Source: Autosport