Former Ferarri chief Stefano Domenicali was named the new president and CEO of F1, replacing Chase Carey in January 2021, Liberty Media announced Friday.
Domenicali, 55, will join Formula One from Lamborghini, where he had been CEO and president. He worked on Ferrari’s F1 team for more than 20 years, becoming the team principal in 2008. He left in 2014 and worked at Audi before joining Lamborghini.
Domenicali is the latest former Ferrari executive to take a leadership role in the F1 hierarchy. Ross Brawn, a key player in Michael Schumacher’s championship run, is the F1 managing director for motorsport, and former team principal Jean Todt is FIA president.
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“I am thrilled to join the Formula 1 organization, a sport that has always been part of my life,” Domenicali said in a release. “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 past six years at Audi and then leading Lamborghini have given me broader perspective and experience that I will bring to Formula 1.”
Liberty Media have confirmed that Stefano Domenicali will take up the role of President and CEO of Formula 1 in January 2021
— Formula 1 (@F1) September 25, 2020
Carey, who had led F1 since Liberty’s Formula One Group took control of the organization in 2017, will move to the role of non-executive chairman.
“Chase has done a phenomenal job leading F1,” Liberty Media President and CEO Greg Maffei said in a statement. “He assembled a first-class commercial and sporting organization 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. His actions have reinforced F1 as the pinnacle of motorsport.”
Said Carey: “It has been an honor 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.”