Formula 1's leadership structure is undergoing significant changes as Derek Chang takes over as Liberty Media's new CEO, effective February 1. Chang replaces Greg Maffei, who departed at the end of last year.

F1 CEO Stefano Domenicali will now report to a three-person committee comprising Chang, Dob Bennett, and Chase Carey. This restructuring is expected to give Domenicali more autonomy in managing F1's operations.

Chang brings valuable experience to the role, having served as a Liberty Media director since March 2021. His background includes executive positions at EverPass Media, NBA, DIRECTV, Scripps, Charter, and TCI.

Liberty chairman John Malone expressed confidence in Chang's appointment, citing his 25-year working relationship and Chang's extensive expertise in both operational and investment roles.

In his initial statement, Chang emphasized the company's commitment to:

• Optimizing the portfolio structure with Liberty Live split-off
• Supporting growth of key assets, including F1 and MotoGP
• Maintaining Liberty's long-term investment approach while remaining agile for new opportunities
• Continuing the momentum of successful properties like Formula 1

This leadership transition comes during a period of strong growth for Formula 1, with Chang highlighting the sport as a key asset for Liberty's continued development.

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