Lager brand Foster's, which has an extensive tie-up with F1, had a huge logo painted onto the surface of the Hungaroring circuit at last month's Hungarian Grand Prix in an effort to give the brand better coverage on screens around the world.
The experiment was then repeated at the subsequent Belgian GP, but after complaints from drivers including Schumacher, the ad was removed following the qualifying session. Concerns had arisen that a combination of rain and the slickness of the paint could pose a serious hazard to drivers travelling at speeds of up to 220mph.
F1's governing body, the FIA, is understood to have decided that the experiment should not be repeated.
Foster's involvement with motor sport, which some campaigners believe should be banned because of the link it creates between alcohol and driving, includes the title sponsorship of the British Grand Prix, held annually at Silverstone.