SOCHI, Russia (AP) — Former Ferrari team principal Stefano Domenicali will take over as president and CEO of Formula One from next year, the series announced Friday.
Domenicali's appointment means that current president and CEO Chase Carey moves into a non-executive chairman role after nearly four years in the job since he was appointed by Formula One Group owner Liberty Media.
Domenicali spent 23 years with Ferrari until 2014 and later worked with Audi before his most recent job as CEO of sports car maker Lamborghini.
His arrival adds to a group of former Ferrari team bosses in key positions overseeing F1. Ross Brawn, who oversaw Ferrari strategy during its golden era with Michael Schumacher at the wheel, is the F1 managing director for motorsport, and former Ferrari team principal Jean Todt is president of the FIA governing body.
“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,” Carey said in a statement. “I’m confident that we’ve built the strong foundation for the business to grow over the long term.”
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