Stefano Domenicali is to remain at the helm of Formula 1 as its CEO after agreeing a five-year contract extension.
His current deal had been due to run out at the end of this year, but it was always thought to be a formality that he would stay on board to help steer the championship throughout the next rules era. His new contract will run until at leas the start of 2030.
Domenicali has played a key role in helping expand F1 since he took over from previous CEO Chase Carey in 2021 – the year after the COVID pandemic that risked seriously damaging the championship.
He has helped take on the foundations that Carey established and, with Liberty Media’s blessing, has grown the calendar as well as brought in an ever greater number of fans.
"I am honoured to continue to lead this incredible sport, which I love and has been part of my life since my childhood and grateful to the Liberty Media team for their trust," said Domenicali.
"Together, with all the relevant F1 stakeholders, we will continue to serve the best interest of our fans, as they are the heartbeat of everything we do. The passion, the energy and the adrenaline are the fuel that powers me every day to give my absolute best to Formula 1."
Liberty Media’s president and CEO Derek Chang said his company had complete faith that Domenicali was the right person to take F1 to ever greater levels in the future.
"Stefano has been an excellent steward of the business, building on its successful foundation and accelerating Formula 1’s rate of growth both commercially and in fan engagement," he explained.
"His energy and enthusiasm for the sport translate into highly effective strategy and results. On behalf of Liberty, we are thankful for his partnership and incredibly optimistic about the continued success the F1 team can drive for the sport, our fans, partners and shareholders."
Domenicali has a wealth of experience in both business and F1, having originally begun working for Ferrari in 1991 in its finance department.
He progressed through the ranks, eventually becoming sporting director in 1998 and playing a pivotal role in the Michael Schumacher glory years as the squad dominated the early 2000s.
He eventually became team boss in 2008, replacing the long-serving Jean Todt, but failed to deliver a world championship title – before resigning at the start of 2014 off the back of a troubled start to the year.
Following his Ferrari exit, he moved into the automotive industry, initially at Audi before becoming CEO at Lamborghini – spearheading a period of growth for the sportscar manufacturer.
His business acumen and history in motorsport put him on the radar of F1 owner Liberty Media when it was searching for a replacement for Carey for the start of 2021.
