Former Ferrari team principal Stefano Domenicali to be CEO of F1

Former Ferrari team principal Stefano Domenicali is all set to replace Chase Carey as the new CEO of Formula 1, taking over from Chase Carey ahead of the 2021 season.

The announcement is yet to be made formal by F1  but teams were informed of the news on Tuesday.

Domenicali was the team principal of Ferrari in F1 between 2008 and 2014, having previously served as its sporting director since 1998. He played a key role in its run of six consecutive constructors’ championships victories at the turn of the century.

After resigning from Ferrari in April 2014, Domenicali joined Audi later that year as its vice-president of new business initiatives, before moving to sister VW Group brand Lamborghini in 2016 as CEO. Throughout his time with Lamborghini, Domenicali has retained a role within the FIA as its president of the single-seater commission that he took up in late 2014.

Domenicali’s primary brief through this period was to push forward a restructuring of the junior single-seater ladder, helping revive Formula 2 as a category and form a new international Formula 3 platform.

But Domenicali will now make a full return to F1 as the series’ new boss in place of Carey, whose time as CEO will end after over three-and-a-half years.

Carey was appointed chairman of F1 upon Liberty Media’s acquisition of F1 back in September 2016, and became CEO once the deal was finalised in January 2017, taking over from Bernie Ecclestone. During his time as CEO, Carey has helped oversee the completion of the new Concorde Agreement, with all 10 teams signing up to F1’s revised commercial terms in August.

The new agreement is set to bring about a more equitable distribution of income moving forward, underpinning further drives for sustainability overseen by Carey such as the new regulations for 2022, which included a groundbreaking budget cap.

F1 has also agreed plans to expand into new markets such as Vietnam during Carey’s time in charge, as well as reviving previous events such as the Dutch Grand Prix and negotiating the challenges of the COVID-19 pandemic to secure a 17-race calendar for 2020.

Domenicali’s appointment will see him join former Ferrari colleagues Jean Todt and Ross Brawn at the helm of F1. Todt has been FIA president since 2010 but is set to leave the role when his current term expires at the end of next year. Brawn joined F1 as its managing director of motorsports in 2017 following Liberty Media’s takeover

Leave a Reply

Your email address will not be published.

Related Posts

Begin typing your search term above and press enter to search. Press ESC to cancel.

Back To Top