Formula One has confirmed that ex-Ferrari team principal Stefano Domenicali will become F1’s CEO in January 2021.
He will take over from Chase Carey, who has held the position since Liberty Media acquired Formula One in 2017.
Carey will still be a part of Formula One’s senior management, switching to the role of non-executive chairman.
“Chase has done a phenomenal job leading F1. He assembled a first-class commercial and sporting organisation that has a long list of achievements, including broadening the appeal of the sport, growing its digital presence, establishing new technical regulations, securing a cost cap for the first time and reaching a new more equitable Concorde Agreement with the teams,” Greg Maffei, Liberty Media president and CEO, said on Friday.
Continuing, Maffei said Carey’s work has “reinforced Formula One as the pinnacle of motorsport” and added that he looks forward to continue working with him in his new capacity.
“We are excited to welcome Stefano Domenicali as president and CEO of Formula One. Stefano brings a rich history of success in F1 at Ferrari and the broader auto industry at Audi and Lamborghini,” Maffei said.
Carey said it has been an honour to lead the sport and is looking forward to “supporting Stefano as he takes the wheel.”
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