F1 proprietor Liberty Media has appointed Derek Chang as its new president and CEO.
The announcement comes following Greg Maffei’s departure final 12 months. Maffei, who helped Liberty full its takeover of F1 again in 2017, confirmed he could be stepping down from the place in November.
Chang, an govt who has a background in media sports activities and leisure, will assume the place as president and CEO from 1 February.
He most lately labored for EverPass Media, an organization which provides stay sport – together with the NFL in the USA and Premier League soccer in England – to enterprise and business institutions.
Chang’s resume additionally contains spells at DIRECTV and NBA China.
Chang will type a three-man Liberty govt board together with Chase Carey and Dob Bennett, who F1 president and CEO Stefano Domenicali will straight report back to.
Liberty adopted up their acquisition of F1 with a bid to takeover motorcycle’s premier racing collection MotoGP in a reported £3.2bn deal which stays topic to approval from the European Fee.
The American media conglomerate hopes to deliver new audiences to MotoGP and enhance the championship’s profile to copy the increase F1 has loved in recent times.
Chang has vowed to “help the expansion of our enticing working property, together with F1 and MotoGP post-acquisition, to proceed their momentum and make investments for the long run”.
Liberty Media chairman John Malone stated: “I’m thrilled to welcome Derek because the CEO of Liberty Media. His experience in each working and funding roles, in depth understanding of our industries and familiarity with Liberty make him the perfect chief for Liberty’s subsequent chapter.
“Personally, I’ve labored with Derek for over 25 years and am constantly impressed by his management model, breadth of experience and world perspective. I look ahead to supporting him and the Liberty administration staff as they proceed to drive shareholder worth.”
