Former Ferrari boss Stefano Domenicali will take over the role of president and chief executive officer of Formula One from Chase Carey, the sport announced today.
Carey was brought into the role in January 2017 and has played an important part in overseeing a raft of changes to be implemented into motorsport’s premier open wheel racing series. That included a budget cap aimed at further levelling the playing field between the top manufacturer-funded teams and (former) privateers, such as Williams Racing.
“It has been an honor to lead Formula 1, a truly global sport with a storied past over the last seventy years,” said Carey in the official statement. “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.”
As for the new President, it would appear that the future of Formula One is in very safe hands. Domenicali held the prestigious role of Ferrari team principal from 2008-14 and has since worked with the Volkswagen Group. Furthermore, he continues to hold the role of single-seater commission of F1’s governing body, the FIA.
“I am thrilled to join the Formula 1 organization, a sport that has always been part of my life,” said Domenicali. “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.”
Chase Carey has done a great job for @F1 since 2017 and I am confident that he will continue in his new role as non-executive Chairman. I wish Stefano Domenicali all the best in the pursuit of this important mission.#F1 #RussianGP 🇷🇺 https://t.co/gVV1froQAm
— Jean Todt (@JeanTodt) September 25, 2020