Stefano Domenicali will stay as CEO of Formulation 1 till at the very least the tip of 2029 after signing a five-year renewal to his settlement with the game’s proprietor Liberty Media.
Liberty chosen Domenicali to take over from former CEO Chase Carey in 2021, and the previous Ferrari workforce principal and Audi VP has overseen continued development for F1 since that time. Saying Domenicali’s contract extension, Liberty says the game’s “ecosystem has by no means been stronger for all stakeholders,” with new Liberty president and CEO Derek Chang saying the Italian has helped guarantee F1 innovates because it seems to proceed its momentum as a enterprise.
“We’re thrilled to resume Stefano and stay up for his management alongside the proficient administration of Formulation 1 for the years forward,” Chang mentioned. “Stefano has been a wonderful steward of the enterprise, constructing on its profitable basis and accelerating Formulation 1’s price of development each commercially and in fan engagement.
“His vitality and enthusiasm for the game translate into extremely efficient technique and outcomes. On behalf of Liberty, we’re grateful for his partnership and extremely optimistic in regards to the continued success the F1 workforce can drive for the game, our followers, companions and shareholders.”
Domenicali has been credited with maintaining the game engaging to new sponsors — together with a latest main international take care of LVMH — whereas extra lately he was concerned with the at-times controversial preliminary rejection after which later approval of an eleventh workforce, with Cadillac set to affix the grid in 2026.
The 59-year-old says the main target of the subsequent 5 years will proceed to be centered on discovering methods to enhance the fan expertise and open up the game to a brand new viewers.
“I’m honored to proceed to guide this unimaginable sport, which I like and has been a part of my life since my childhood and grateful to the Liberty Media workforce for his or her belief,” Domenicali mentioned. “Collectively, with all of the related F1 stakeholders, we’ll proceed to serve the perfect curiosity of our followers, as they’re the heartbeat of every thing we do. The fervour, the vitality and the adrenaline are the gasoline that powers me daily to offer my very best to Formulation 1.”
