Former Ferrari team principal, Stefano Domenicali, has been named the new president and chief executive officer, CEO, of Formula 1.
The appointment comes shortly after Carey has sealed the future of the sport for the next five years, having successfully signed up the teams to new contracts and overseen the introduction of a series of new rules, including a budget cap that is being introduced next year.
Greg Maffei, the president of F1 owners Liberty Media, said:”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.”
The 55-year-old Italian, currently the chief executive of Lamborghini, will take up his role in January.
Domenicali was Ferrari team principal from 2008-14 and has since worked with the Volkswagen Group.
Domenicali has also been head of the single-seater commission of F1’s governing body the FIA, a role he continues to hold.
“I am thrilled to join the Formula 1 organisation, a sport that has always been part of my life,” said Domenicali.
Domenicali’s appointment has been widely welcomed by F1 teams.
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