Stefano Domenicali, ex-Ferrari and Lamborghini boss, is set to join the Liberty Media’s Formula 1 as its Chief Executive Officer and President.
Formula 1 has announced the replacement of current CEO, Chase Carey. Reportedly, the Italian boss will take over the business starting from the next year.
Lamborghini has been issuing statements regarding the departure of the current CEO, from time to time. At one occasion, the Italian sports car manufacturer have reasoned for his departure. It stated that he will be moving for a ‘new and prestigious professional role’ from January 2021.
Formula 1 also announced an opening for a position of CEO with the Liberty Media, soon after the Lamborghini.
Domenicali, commented on his new position, 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.”
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Carey’s engagement as F1 boss had been limited and he did not intend to prolong it sstay beyond. Despite his limited stay with F1, he was convinced that his contribution in Concorde Agreement and its framework will establish the sports future.
“It has been an honour to lead Formula 1, a truly global sport with a storied past over the last seventy years,” said the American.
“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 left the Ferrari in 2014 and later joined Audi. Later on, he assumed the role of CEO at Lamborghini in 2016, where he helped the manufacturer to grow the sales.
Domenicali has been associated with FIA. He served as president for a FIA Single Seater Commission, where he managed the restructuring of junior motorsport ladder.
Domenicali appointment has been welcome by the teams. His experience and abilities will help him perform his duties with excellence.
