Stefano Domenicali will continue his role as Chief Executive Officer of Formula 1, as confirmed in an official statement.
Speculation about a possible departure has now been put to rest: Formula 1 has officially announced a contract extension for Stefano Domenicali, who will remain President and CEO until 2029. The five-year renewal with Liberty Media ensures his leadership for another five years, solidifying the championship’s growth and global success.
Domenicali took over as President and CEO on January 1, 2021, and under his leadership, Formula 1 has reached new heights of popularity and commercial success. The championship has seen remarkable growth, with increasing global interest and stronger fan engagement. Key commercial sectors, including sponsorships, media rights, and race promotion, have achieved record results, strengthening F1’s ecosystem like never before.
Derek Chang, President and CEO of Liberty Media, expressed his satisfaction with Domenicali’s renewal: “We are thrilled to confirm Stefano at the helm of Formula 1 for the years to come. He has accelerated the business’s growth, both commercially and in terms of fan engagement, demonstrating great energy and strategic vision. We are optimistic about the future and the opportunities Formula 1 will continue to offer to fans, partners, and stakeholders.”
Domenicali shared his enthusiasm for his reappointment: “It is an honor to continue leading this incredible sport, which has been part of my life since childhood. I am grateful to the Liberty Media team for their trust in me. Together with all F1 stakeholders, we will keep working in the best interest of our fans, who are the heartbeat of everything we do. The passion and adrenaline of Formula 1 fuel me every day to give my absolute best.”
Stefano Domenicali’s Career
Domenicali’s motorsport career began at Ferrari in 1991, where he held roles of increasing responsibility until becoming Team Principal in 2008. He later joined Audi AG as Vice President of New Business Initiatives before being appointed President and CEO of Automobili Lamborghini in 2016. During his tenure at Lamborghini, he played a key role in the brand’s global growth and financial success.
Photo: Formula 1