Liberty Media has confirmed that Stefano Domenicali will replace Chase Carey as Formula 1’s President and CEO from the start of 2021.
Ex-Ferrari team boss Domenicali was heavily linked with the position earlier this week and on Friday Liberty Media announced the appointment.
Domenicali has held roles at Audi, Lamborghini and the FIA’s Single-Seater Commission since stepping down as Ferrari’s team boss in early 2014.
Carey, 65, will remain involved in Formula 1 by moving to the position of non-executive Chairman.
“Chase has done a phenomenal job leading F1,” said Liberty Media’s President Greg Maffei.
“He assembled a first-class commercial and sporting organisation that has a long list of achievements, including broadening the appeal of the sport, growing its digital presence, establishing new technical regulations, securing a cost cap for the first time and reaching a new more equitable Concorde Agreement with the teams.
“His actions have reinforced F1 as the pinnacle of motorsport. As always, he has been a great partner and I look forward to his continued counsel in his new role as non-executive Chairman.
“We are excited to welcome Stefano as President and CEO of Formula 1.
“Stefano brings a rich history of success in F1 at Ferrari and the broader auto industry at Audi and Lamborghini.”
Domenicali will take up his new position at the start of January.
“I am thrilled to join the Formula 1 organisation, a sport that has always been part of my life,” he said.
“I was born in Imola and live in Monza. I’ve remained connected to the sport through my work with the Single Seater Commission at the FIA and I look forward to connecting with the teams, promoters, sponsors and many partners in Formula 1 as we continue to drive the business ahead.
“The past six years at Audi and then leading Lamborghini have given me broader perspective and experience that I will bring to Formula 1.”