Stefano Domenicali to remain as President and CEO of Formula 1
Breaking News
- Savannah Lenz
Formula One has announced its President and CEO, Stefano Domenicali, after a four year spell as the head of Formula 1, will remain in his position until 2029.
President and CEO Stefano Domenicali and Liberty Media have reached an agreement to renew the Italian's contract for five more years until 2029.
Domenicali to remain 'F1 Supremo'
Domenicali first started his Formula 1 career with Ferrari in 1991. 30 years later he became President and CEO of F1 on 1 January, 2021.
In the Formula 1 press release, President and CEO of Liberty Media, Derek Chang, said: “We are thrilled to renew Stefano and look forward to his leadership alongside the talented management of Formula 1 for the years ahead. 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. His energy and enthusiasm for the sport translate into highly effective strategy and results. On behalf of Liberty, we are thankful for his partnership and incredibly optimistic about the continued success the F1 team can drive for the sport, our fans, partners and shareholders.”
About his renewal, Domenicali said, "I am honoured to continue to lead this incredible sport, which I love and has been part of my life since my childhood and grateful to the Liberty Media Team for their trust. 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. The passion, the energy and the adrenaline are the fuel that powers me every day to give my absolute best to Formula 1.”
Want more Formula 1? Then follow GPblog on our various social media channels!