Stefano Domenicali will become F1 CEO at the start of 2021
Photo: Stefano Guindani via CC
Formula 1 has confirmed that Chase Carey will step down as the sport’s CEO in January, with former Ferrari team principal Stefano Domenicali taking over the reins. Carey, who had been CEO since 2017, will become a non-executive chairman.
Domenicali has a long and rich history in motorsports, having been involved with Ferrari since graduating from the University of Bologna in 1991. He became team principal for the F1 team in 2008 and, after resigning in 2014, was hired by Audi. At the same time, he became head of the FIA’s single-seater commission, and in 2016 he was appointed as CEO of Lamborghini.
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The news of his appointment has been well received by the F1 teams. “I think it’s great for the sport,” said Red Bull Racing team principal Christian Horner. “He’s one of the good guys, having competed against him when he was the team principal of Ferrari.”
“He had a lot of integrity, he was a racer, a competitor, he understands the business. Obviously he spent life in the commercial world outside F1 the last few years. He’s done a great job at Lamborghini, and I think he will be a great asset to F1.”
When asked what he thought about a former Ferrari man taking on a senior position in the sport’s operations, Horner was not concerned. He cited Jean Todt and Ross Brawn, both of whom helped build the successful early-2000s Ferrari team before moving on to run F1.
“I don’t think that there’s any particular bias or love towards Ferrari from any of those individuals. I’m sure Stefano if he takes the role will be scrupulous in his impartiality,” Horner said.
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Chase Carey, F1 CEO from 2017-2020
Photo: Palácio do Planalto via CC
Cyril Abiteboul, team principal for Renault, believes Domenicali’s experience with sports car manufacturers gives him useful knowledge at a time when brands like Aston Martin and Alpine are entering the sport.
It’s not clear what motivated F1 to replace Carey. Previously head of 21st Century Fox, Carey had become F1’s CEO in 2017 after Liberty Media bought the commercial rights to the series for $8 billion. In doing so, Carey was replacing the controversial Bernie Ecclestone, who had been F1 boss for 40 years.
One of Carey’s last acts as F1 CEO was to oversee the signing of the latest Concorde Agreement. It committed all 10 of the current F1 teams to the sport through 2025 while introducing significant rule changes and budget caps to increase financial and competitive parity between the teams. Though Carey is stepping down in 2021, his impact on the sport will reverberate for years.
Kurt Verlin was born in France and lives in the United States. Throughout his life he was always told French was the language of romance, but it was English he fell in love with. He likes cats, music, cars, 30 Rock, Formula 1, and pretending to be a race car driver in simulators; but most of all, he just likes to write about it all. See more articles by Kurt.
