Stefano Domenicali will stay as CEO of Method 1 till at the very least the top of 2029 after signing a five-year renewal to his settlement with the game’s proprietor Liberty Media.
Liberty chosen Domenicali to take over from former CEO Chase Carey in 2021, and the previous Ferrari crew principal and Audi VP has overseen continued progress for F1 since that time. Saying Domenicali’s contract extension, Liberty says the game’s “ecosystem has by no means been stronger for all stakeholders,” with new Liberty president and CEO Derek Chang saying the Italian has helped guarantee F1 innovates because it seems to be to proceed its momentum as a enterprise.
“We’re thrilled to resume Stefano and look ahead to his management alongside the gifted administration of Method 1 for the years forward,” Chang mentioned. “Stefano has been a wonderful steward of the enterprise, constructing on its profitable basis and accelerating Method 1’s price of progress each commercially and in fan engagement.
“His vitality and enthusiasm for the game translate into extremely efficient technique and outcomes. On behalf of Liberty, we’re grateful for his partnership and extremely optimistic in regards to the continued success the F1 crew can drive for the game, our followers, companions and shareholders.”
Domenicali has been credited with holding the game engaging to new sponsors — together with a latest main world take care of LVMH — whereas extra not too long ago he was concerned with the at-times controversial preliminary rejection after which later approval of an eleventh crew, with Cadillac set to hitch the grid in 2026.
The 59-year-old says the main focus of the subsequent 5 years will proceed to be targeted on discovering methods to enhance the fan expertise and open up the game to a brand new viewers.
“I’m honored to proceed to guide this unimaginable sport, which I really like and has been a part of my life since my childhood and grateful to the Liberty Media crew for his or her belief,” Domenicali mentioned. “Collectively, with all of the related F1 stakeholders, we are going to proceed to serve the very best curiosity of our followers, as they’re the heartbeat of all the pieces we do. The eagerness, the vitality and the adrenaline are the gas that powers me every single day to provide my very best to Method 1.”
