PARIS – Stefano Domenicali will take over as president and CEO of Formula One beginning in January 2021, replacing outgoing chairman and CEO Chase Carey.

Carey will remain with Formula One in the role of non-executive chairman.

Domenicali, who most recently served as CEO for Lamborghini, spent many years in the Formula One paddock as part of the Scuderia Ferrari team. He was with Ferrari from 1991 until early 2014, eventually serving as team principal beginning in 2008.

“I am thrilled to join the Formula One organization, a sport that has always been part of my life,” said Domenicali. “I was born in Imola and live in Monza. I’ve remained connected to the sport through my work with the Single Seater Commission at the FIA and I look forward to connecting with the teams, promoters, sponsors and many partners in Formula 1 as we continue to drive the business ahead.

“The past six years at Audi and then leading Lamborghini have given me broader perspective and experience that I will bring to Formula One.”

Greg Maffei, Liberty Media president and CEO, said he was excited to welcome Domenicali to Formula One. He said Carey will continue to play an important role with the organization.

“Chase has done a phenomenal job leading F-1,” Maffei said. “He assembled a first-class commercial and sporting organization that has a long list of achievements, including broadening the appeal of the sport, growing its digital presence, establishing new technical regulations, securing a cost cap for the first time and reaching a new more equitable Concorde agreement with the teams.

“His actions have reinforced F-1 as the pinnacle of motorsport. As always, he has been a great partner and I look forward to his continued counsel in his new role as non-executive chairman.

“We are excited to welcome Stefano Domenicali as President and CEO of Formula One,” he added. “Stefano brings a rich history of success in F-1 at Ferrari and the broader auto industry at Audi and Lamborghini.”

Carey, who has been the chairman and CEO of Formula One since 2017 after Liberty Media completed its purchase of Formula One, said he is proud of the time he spent leading the organization.

“I’m proud of the team that’s not only navigated through an immensely challenging 2020 but returned with added purpose and determination in the areas of sustainability, diversity and inclusion,” Carey said.

“I’m confident that we’ve built the strong foundation for the business to grow over the long term. It’s been an adventure and I’ve enjoyed working with the teams, the FIA and all of our partners. I look forward to staying involved and supporting Stefano as he takes the wheel.”