It has been confirmed that former team principal of Ferrari, Stefano Domenicali will replace Chase Carey as the CEO of Formula 1 in January.
- Carey who has been CEO since 2017 will continue on the board but in a non-executive role.
- Domenicali is best known for having replaced Jean Todt to lead the Ferrari F1 team from 2008 until 2014.
- Since then he worked for Audi and the FIA, before being appointed the CEO of Lamborghini.
Formula One has announced that Italian, Stefano Domenicali will take the reins from Chase Carey and lead F1 as its CEO from January. Carey has spent almost four years as the sport's CEO since Liberty Media took a majority shareholder's stake in 2017.
Domenicali's background with Ferrari, the Volkswagen Group and the FIA, put him in an excellent position to lead the sport into the future. He has shown an undeniable passion for F1, and speaking earlier he said:
"I am thrilled to join the Formula One organisation, a sport that has always a 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 F1 as we continue to drive the business ahead.
"The past six years at Audi and then leading Lamborghini [both part of the Volkswagen Group] have given me broader perspective and experience that I will bring to Formula 1."
The 55-year-old's appointment has so far gone down extremely well with teams and drivers alike. Christian Horner described him as "one of the good guys", with Lewis Hamilton calling it "amazing" news, and saying that he didn't "think they could have really chosen someone better."
Chase Carey has overseen a challenging year for the sport, as well as the process of the teams agreeing to the new 'Concorde' agreement, that should make F1 more sustainable in the future. This is something which he alluded to while speaking about the news:
"It has been an honour to lead F1. 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."
Domenicali is a familiar face in the paddock, and it will be great to see someone with his passion and experience lead Formula One into a new era for the sport. Welcome back, Stefano.