On the eve of Season Five of the ABB FIA Formula E Championship, Alejandro Agag will leave his role as CEO of the all-electric single seater series with immediate effect, becoming the championship's Chairman.
With a replacement not yet confirmed, Agag will continue as CEO for the coming months while as Chairman, the Founder of the revolutionary championship will be able to divert more attention towards relationships with the FIA as well as Formula E's commercial partners and host cities.
“It’s time to open a new phase in the world’s fastest-growing motorsport. I’m really proud of the job we’ve done, together with the FIA, our management team, shareholders, partners and teams," said Agag.
"Formula E is in the best moment of its short history. As Chairman, I’ll be better placed to help the new CEO and our strong management team to continue growing the sport that I believe is the future of motor racing.”
Outgoing Formula E Chairman Simon Freer, speaking on behalf of the series' shareholders and board, hailed the growth rate that the championship has seen under Agag while expressing excitement to continue working with the Spaniard:
“Under Alejandro’s leadership as CEO, the series has established itself as a leading global motorsport and is set to continue its impressive performance and trajectory going forward," he said.
"We look forward to continue working with both Alejandro as Chairman and the new CEO to bring Formula E to the next level.”
Formula E's fifth season of competition and next generation of racing will commence this weekend with the inaugural Ad Diriyah E-Prix, supported by the all-new Jaguar I-PACE eTROPHY.
