Stefano Domenicali will relinquish his function as Chairman and CEO at Lamborghini to take up the brand new job because the CEO at Formulation 1, whereas Chase Carey will proceed to serve on the board as a non-executive Chairman.
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Stefano Domenicali might be taking up his function as the brand new F1 CEO initially of subsequent yr
Ending all speculations, the FIA has introduced that Stefano Domenicali might be appointed as the brand new Formulation 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-old comes with 30 years of lively motorsport expertise and was a Scuderia Ferrari workforce principal between 2008 and 2014, having began his profession with the Italian automaker in 1991. In the meantime, Carey will proceed to be on the F1 board as a non-executive chairman.
Additionally Learn: Ex-Ferrari Boss Stefano Domenicali To Replace Chase Carey As New F1 CEO
Talking on his new function, Stefano Domenicali stated, “I’m thrilled to hitch the Formulation 1 group, a sport that has at all times been a part of my life. I used to be born in Imola and reside in Monza. I’ve remained linked to the game by way of my work with the Single Seater Fee on the FIA and I stay up for connecting with the groups, promoters, sponsors and plenty of companions in Formulation 1 as we proceed to drive the enterprise forward. The previous six years at Audi after which main Lamborghini have given me a broader perspective and expertise that I’ll convey to Formulation 1.”
F1 MD, Ross Brawn and Stefano Domenicali because the Technical Director and Group Supervisor respectively at Scuderia Ferrari within the early 2000s | Pic Credit score: F1
Talking on his departure because the CEO, Chase Carey stated it was “an honour to guide Formulation 1, a really international sport with a storied previous during the last seventy years. I am pleased with the workforce that is not solely navigated by way of an immensely difficult 2020 however returned with added objective and willpower within the areas of sustainability, range and inclusion. I am assured that we have constructed the robust basis for the enterprise to develop over the long run. It has been an journey and I’ve loved working with the groups, the FIA and all of our companions. I stay up for staying concerned and supporting Stefano as he takes the wheel.”
Stefano’s appointment comes at a time when Formulation 1 is transitioning into a more recent section with new vehicles, expertise, 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 sort out in 2021. In the meantime, Chase Carey leaves a robust legacy having carried out a number of championships seamlessly since his appointment in 2017, to not overlook conducting the salvaging the 2020 season that is seen some unprecedented challenges.
Chase Carey was appointed the CEO at F1 in 2017 and has been chargeable for numerous adjustments within the sport
Talking about Chase Carey’s contribution, Greg Maffei, Liberty Media President and CEO, stated “Chase has completed an outstanding job main F1. He assembled a first-class business and sporting organisation that has an extended record of achievements, together with broadening the enchantment of the game, rising its digital presence, establishing new technical laws, securing a value cap for the primary time and reaching a brand new extra equitable Concorde settlement with the groups. His actions have strengthened F1 as the head of motorsport. As at all times, he has been an incredible associate and I stay up for his continued counsel in his new function as non-executive Chairman.”
Talking on Domenicali’s appointment, Maffei added, “We’re excited to welcome Stefano Domenicali as President and CEO of Formulation 1,” he added. “Stefano brings a wealthy historical past of success in F1 at Ferrari and the broader auto business at Audi and Lamborghini.”
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Stefan Domenicali might be intently working different Ex-Ferrari bosses together with FIA President, Jean Todt and F1 Managing Director, Ross Brawn. The Italian is understood for his vital contribution within the new success of Lamborghini. He’s additionally the President of the FIA single-seater fee and was instrumental in reviving Formulation 2 up to now.
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