Sean Bratches will step down from his role as Managing Director of Commercial Operations at the end of January, Formula 1 has announced.
Bratches made his name with ESPN, and joined Liberty Media with Chase Carey and Ross Brawn when the company purchased Formula 1 from CVC three years ago.
One of Bratches’ main roles was to increase revenue and find new sponsors, however, the company has recently lost some of its main sponsors, including Tata Communications.
The 60-year-old was finding it increasingly hard to split his time between the F1 headquarters in London and his family home in the United States and that was a main factor in his decision to step down from his role.
Although his role will end in January, Bratches has confirmed that he will take on an advisory role for the foreseeable future.
Speaking about the announcement, Formula 1 CEO, Chase Carey, said: “I want to thank Sean on behalf of everyone at Formula 1 for the leadership, passion and expertise he has given to the business over the past three years.
“Sean has transformed the commercial side of Formula 1 and a testament to his work is shown in our momentum and growth as a business.
“I am pleased Sean will continue to be an advisor for us from his home in the US, he will always be part of the Formula 1 family and I look forward to his ongoing advice and counsel. I wish him all the best in his new endeavours.”
Bratches added: “The past three years at Formula 1 have been an incredible journey, one which I have enjoyed thoroughly.
“I want to personally thank the team at F1 for their extraordinary efforts and dedication, they are the best of the best and I am confident they will continue to serve fans and deliver on the strategy we have set in the years ahead.
“I am proud that I leave Formula 1 in a better position than when I joined in 2017 and I know that the foundation we have put in place as a team will continue to serve our fans around the world and reach new audiences.”