Ex-Ferrari boss Domenicali to take over as Formula 1 CEO Image Unavailable, Please Login Former Ferrari team principal Stefano Domenicali is poised to make a surprise return to Formula 1 as the CEO of the sport, RaceFans has learned from a source with knowledge of the situation. The role of CEO will be relinquished by Chase Carey, who took up the position in January 2017 following Liberty Media’s takeover, and has recently overseen the successful completion of negotiations to extend F1’s Concorde Agreement with all 10 participating teams. Carey, who also holds the role of F1 chairman, is expected to retain links to the sport in an outward-facing role. Domenicali, 55, is well-connected both to Formula 1 managing director Ross Brawn and FIA president Jean Todt through his spell at Ferrari. Born in Imola and educated at the University of Bologna, Domenicali joined Ferrari in 1991. He took over from Todt in charge of the team in 2007 and oversaw its most recent championship success the following year, before standing down in 2014. In December that year Domenicali took over as the head of the FIA’s single seater commission. Two years later he became the CEO of Lamborghini, which is now believed to be up for sale by parent company Audi. Domenicali is expected to take over the role before the start of next season. Liberty Media declined to comment when approached by RaceFans. The appointment of Domenicali means the top roles at both F1’s governing body and commercial rights holder will be held by former Ferrari principals. However Todt, who became FIA president in 2010, has indicated he will not seek re-election when his current term expires at the end of next year. https://www.racefans.net/2020/09/22/ex-ferrari-boss-domenicali-to-take-over-as-formula-1-ceo/
Lamborghini is for sale? Now that they finally are making some money? And who is going to buy that? Stroll?
Not if it is at the apex of it's value curve. The world is changing. Audi may feel the future isn't too bright for Lamorghini.
They´ll have to invest in new engines with hybrid stuff soon so maybe they prefer to get some quick cash now.
No one will want an electric Lamborghini. Seems that's the path the world leaders (?) have chosen....
This news is puzzling. What is the rationale behind it? Is Liberty unhappy with Carey's performance? In reality he did a good job, in fact an extremely good one given the harsh conditions of this year. Bernie and many journos wanted to write off the season, Carey fought that. And saved several teams from collapsing. I wasn't a Carey fan when he replaced the grid girls with grid children. Too PC. But I like the expansion of F1 he is trying to accomplish in the Americas and globally. And he did a stellar job this year. Domenicali didn't convince me at Ferrari (unlike e.g. Todt or Montezuma). So why replace a proven winner with somebody new? I don't get it. Do you guys?
There was a plan in place from the outset of Liberty's investment that Chase was going to only have the position a short time, my understanding was that he was supposed to leave even earlier, but they instituted the "Wolff Rule" which meant that no one that was the principal of a team within the past two years could head F1. So back to the drawing board after that was agreed upon. Wolff was heavily linked to the position over the past couple of seasons. Domenicali has lead an F1 team and now a supercar company as well as served on the FIAs single seater commission so there is experience there. Your opinion may be very valid, but that seems to be their reasoning behind his choice.
Ok, thanks for the explanation. Didn't know this was a preplanned exit. So no shame on Carey, all good. I'll miss the sweater over the shoulders and the moustache.
Another ex Ferrari employee to stick the boot into SF no doubt, hopefully he has higher morals than that? Seems like most of the FIA will indeed be Ferrari International Association [of ex employees] Tony
Just saw the official news release from Automotive News Europe, Domenicali's appointment is effective 1/1/2021.
VW have got to generate cash to pay for diesel gate plus the problems they have launching meb platform. Bugatti also being offloaded but that's really a shuffle to Porsche ownership
To clarify, the article references an October 13 2019 (11 months previous) statement by VW: https://www.bnnbloomberg.ca/volkswagen-says-no-plans-for-sale-or-ipo-of-lamborghini-1.1330996 If Domenicali is not replaced (no replacement has been announced) you can presume the brand is going to have a transition of some sort, per speculation as to what that may be. But for the CEO to resign a year and half after his 5-year plan was announced: https://www.autocar.co.uk/car-news/features/ceo-stefano-domenicalis-five-step-plan-lamborghini something is wrong, very wrong, and I think the pending EURO 7 regulations have a great deal to do with that (i.e. no new V12 anywhere in sight, recent 'evolutions' to electric are not 'compliance cars') and we may find Lamborghini combining with Porsche and the "new" CEO is actually the Porsche CEO (Oliver Blume), after all, Lamborghini already has its main designer from Porsche, the Urus is 100% Porsche drivetrain, the Taycan EV technology would be available, etc... not to mention the close relationship of VW and Rimac https://www.volkswagenag.com/en/news/2019/09/Rimac.html
Toto Wolff on whether the F1 boss role would have been a good role for him too: "My place is with Mercedes. I feel comfortable with the constellation, I am not only team principal but also a partner of Mercedes. Together I believe we can bring the team into a new league." Toto Wolff: "I am happy for Stefano. He is a man who knows racing and the business, so a good choice!" Are you worried that an ex-Ferrari man is the F1 boss now? Toto Wolff: "No worries at all. Stefano is a man of integrity. He will try to develop the sport in the best possible way, which of course includes that he will probably try to slow us down. But that is part of the game."
I'm more interested with the fact that Lambo is for sale?? And it seems Rimac might buy over Bugatti as well?