Domenicali to continue as F1 chief until 2029 / Photo: Ethan Miller - GETTY IMAGES NORTH AMERICA/AFP
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NYSE - LSE
Domenicali to continue as F1 chief until 2029
Stefano Domenicali will remain president and chief executive of Formula One until 2029 after extending his contract Wednesday on the eve of the season-opening race in Australia.
The Italian assumed the role in 2021 and has been instrumental in driving a strong period of growth for the business, with increased fan interest and demand for races around the world.
He is the second Formula One Management chief appointed since Liberty Media took over as owner of the sport's commercial rights in 2017, after predecessor Chase Carey.
"We are thrilled to renew Stefano and look forward to his leadership alongside the talented management of Formula 1 for the years ahead," Derek Chang, president and chief executive of Liberty Media, said in a statement.
"Stefano has been an excellent steward of the business, building on its successful foundation and accelerating Formula 1's rate of growth both commercially and in fan engagement."
Former Ferrari team boss Domenicali said he was "honoured" to stay in the role.
"Together, with all the relevant F1 stakeholders, we will continue to serve the best interest of our fans, as they are the heartbeat of everything we do," said the 59-year-old.
Q.Najjar--SF-PST