The 68-year-old had strongly denied the claims and was recently awarded £60,000 compensation following legal action against the paper.
However, Stewart believes that the whole episode has cast a shadow over his presidency and believes he should step aside.
"If Max were president of the Olympic movement, he would have been told to go," Stewart said.
"I don't see how he can justify staying on. The vote of confidence was not a large majority, and there were a number of people who did not vote.
"As for the motorsport community, there were very few people who were prepared to speak out, basically in fear of repercussions.
"That does not speak well of the organisation, and I feel Max should now step down and cut out of it totally."



