Stefano Domenicali has been officially named the next CEO and president of Formula 1, with Chase Carey becoming non-executive chairman.
Liberty Media confirmed the news on Friday after it was initially circulated earlier this week, with Domenicali set to start in his new roles in January. The former Ferrari team principal is taking over from Carey, who has led the sport since Liberty’s takeover in 2017, and Liberty Media president and CEO Greg Maffei paid tribute to the 66-year-old for his work.
“Chase has done a phenomenal job leading F1,” Maffei said. “He assembled a first-class commercial and sporting organization 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 Domenicali 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’s departure from Lamborghini — where he was chairman and CEO — was confirmed just minutes before the F1 announcement, and the Italian says his time away from the sport has helped prepare him for his return.
“I am thrilled to join the Formula 1 organization, a sport that has always been part of my life,” Domenicali 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.”