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F1: Stefano Domenicali Appointed As The New Formula 1 CEO – carandbike

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Stefano Domenicali will relinquish his function as Chairman and CEO at Lamborghini to take up the brand new job because the CEO at Formula 1, whereas Chase Carey will proceed to serve on the board as a non-govt Chairman.


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Stefano Domenicali will likely be taking up his function as the brand new F1 CEO at the beginning of subsequent 12 months

Ending all speculations, the FIA has introduced that Stefano Domenicali will likely be appointed as the brand new Formula 1 CEO, stepping instead of Chase Carey from 2021. Domenicali will relinquish his present function at Automobili Lamborghini, the place has been working because the Chairman and CEO since 2016. The 55-year-previous comes with 30 years of energetic motorsport expertise and was a Scuderia Ferrari staff principal between 2008 and 2014, having began his profession with the Italian automaker in 1991. Meanwhile, Carey will proceed to be on the F1 board as a non-govt chairman.

Also Read: Ex-Ferrari Boss Stefano Domenicali To Replace Chase Carey As New F1 CEO

Speaking on his new function, Stefano Domenicali stated, “I am thrilled to join the Formula 1 organization, 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 past six years at Audi and then leading Lamborghini have given me a broader perspective and experience that I will bring to Formula 1.”

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F1 MD, Ross Brawn and Stefano Domenicali because the Technical Director and Team Manager respectively at Scuderia Ferrari within the early 2000s | Pic Credit: F1

Speaking on his departure because the CEO, Chase Carey stated it was “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. It’s been an adventure and I’ve enjoyed working with the teams, the FIA and all of our partners. I look forward to staying involved and supporting Stefano as he takes the wheel.”

Stefano’s appointment comes at a time when Formula 1 is transitioning into a more recent part with new automobiles, know-how, groups and laws in place. These would be the main challenges for the previous Lamborghini boss beginning in 2022, whereas the funds cuts is what he should deal with in 2021. Meanwhile, Chase Carey leaves a powerful legacy having performed a number of championships seamlessly since his appointment in 2017, to not neglect conducting the salvaging the 2020 season that is seen some unprecedented challenges.

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Chase Carey was appointed the CEO at F1 in 2017 and has been chargeable for plenty of adjustments within the sport

Speaking about Chase Carey’s contribution, Greg Maffei, Liberty Media President and CEO, stated “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. His actions have reinforced F1 as the pinnacle of motorsport. As always, he has been a great partner and I look forward to his continued counsel in his new role as non-executive Chairman.”

Speaking on Domenicali’s appointment, Maffei added, “We are excited to welcome Stefano Domenicali as President and CEO of Formula 1,” he added. “Stefano brings a rich history of success in F1 at Ferrari and the broader auto industry at Audi and Lamborghini.”

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Stefan Domenicali will likely be carefully working different Ex-Ferrari bosses together with FIA President, Jean Todt and F1 Managing Director, Ross Brawn. The Italian is understood for his important contribution within the new success of Lamborghini. He can be the President of the FIA single-seater fee and was instrumental in reviving Formula 2 previously.

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