Stefano Domenicali has been appointed as the new president and CEO of F1.
Domenicali, the former principal of Ferrari’s F1 team between 2008-2014, will replace Chase Carey from January who himself will become F1’s non-executive chairman. It marks the Italian’s return to the sport, having spent the past four years behind the wheel of Lamborghini.
As CEO and president, Domenicali will be charged with overseeing the growth of the sport professionally and commercially, along with enhancing its positions as one of the most-watched motorsports competitions in the world.
The appointment was announced by Liberty Media, the owners of F1. Domenicali said: “I am thrilled to join the Formula 1 organisation, a sport that has always been part of my life. I was born in Imola and live in Monza. I’ve remained connected to the sport through my work with the Single Seater Commission at the FIA and I look forward to connecting with the teams, promoters, sponsors and many partners in Formula 1 as we continue to drive the business ahead.”
The appointment has been well-received by the heads of a number of F1 teams, with Domenicali respected for what he achieved at Ferrari.
Meanwhile, the DirecTV CEO Carey, who has served in the role for three years, will become non-executive chairman after a tumultuous and unpredictable 2020 in which he was responsible for a drastically reworked 17 race season.
He said: “It has been an honour to lead Formula 1, a truly global sport with a storied past over the last seventy years. I’m proud of the team that’s not only navigated through an immensely challenging 2020 but returned with added purpose and determination in the areas of sustainability, diversity and inclusion.
“I’m confident that we’ve built the strong foundation for the business to grow over the long term.”
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