Domenicali replaces Carey as Formula 1 CEO

Former Ferrari Team Principal Stefano Domenicali will replace Chase Carey as CEO of Formula 1 from January 2021 the series has confirmed.

Domenicali, who was Ferrari Team Principal between 2008-2014, has more recently been working at Lamborghini as CEO whilst also working with the FIA as head of the single seater commission.

But, on Friday Formula 1 confirmed that Domenicali had been appointed as President and CEO of Formula 1, replacing Carey who will take on a new role of non-executive chairman.

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“I am thrilled to join the Formula 1 organization, a sport that has always been part of my life. 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,” Domenicali said in a statement issued by Liberty Media.

“The past six years at Audi and then leading Lamborghini have given me broader perspective and experience that I will bring to Formula 1.”

Carey leaves his role as CEO having recently secured agreement from all teams to introduce a budget cap over the next few years, whilst also pushing through new technical regulations for the 2022 F1 season.

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Speaking about his time in the series, he said: “It has been an honour to lead Formula 1, a truly global sport with a storied past over the last seventy years.

“I’m proud of the team that’s not only navigated through an immensely challenging 2020 but returned with added purpose and determination in the areas of sustainability, diversity and inclusion.

“I’m confident that we’ve built the strong foundation for the business to grow over the long term.

“It’s been an adventure and I’ve enjoyed working with the teams, the FIA and all of our partners.

“I look forward to staying involved and supporting Stefano as he takes the wheel.”