Formula One and Liberty Media have announced a five-year renewal agreement, which will see current F1 President and CEO Stefano Domenicali remain in his role until the end of 2029.
Domenicali replaced Chase Carey as the CEO of Formula One ahead of the 2021 season. He held the role of Team Principal at Ferrari between 2008 and 2014 and was the CEO and President of Lamborghini between 2016 and 2020. Early in his career, he worked in DTM in the 1990s, and he held the roles of Logistics Manager, Sporting Director, and Director at Ferrari between 2001 and 2007.
Stefano Domenicali, President and CEO of Formula One, commented:
“I am honoured to continue to lead this incredible sport, which I love and has been part of my life since my childhood and grateful to the Liberty Media Team for their trust. Together, with all the relevant F1 stakeholders, we will continue to serve the best interest of our fans, as they are the heartbeat of everything we do. The passion, the energy and the adrenaline are the fuel that powers me every day to give my absolute best to Formula 1.“
Derek Chang, President and CEO of Liberty Media, said:
“We are thrilled to renew Stefano and look forward to his leadership alongside the talented management of Formula 1 for the years ahead. Stefano has been an excellent steward of the business, building on its successful foundation and accelerating Formula 1’s rate of growth both commercially and in fan engagement. His energy and enthusiasm for the sport translate into highly effective strategy and results. On behalf of Liberty, we are thankful for his partnership and incredibly optimistic about the continued success the F1 team can drive for the sport, our fans, partners and shareholders.“
Leave a Reply