Formula 1 owner Liberty Media has appointed a new president and chief executive officer following Greg Maffei's departure last year. Derek Chang, an executive specialising in media sports and entertainment,

F1 owner Liberty Media has appointed Derek Chang as its new president and CEO. The announcement comes following Greg Maffei’s departure last year. Maffei, who helped Liberty complete its takeover of F1 back in 2017, confirmed he would be stepping down from the position in November.

Formula One owner Liberty Media appointed longtime sports executive Derek Chang as its next CEO on Wednesday. Chang will officially take over on Feb. 1 and will lead Liberty's three-man executive board that will work with F1 CEO Stefano Domenicali.

Liberty Media Corporation has announced the appointment of Derek Chang as its new President and Chief Executive Officer. Chang is an experienced executive in the global media, sports and entertainment industries.

Liberty Media has announced the appointment of Derek Chang as its new president and CEO, effective February 1, 2025.

In November of 2024, Liberty Media announced that Maffei was stepping down as CEO and president of the company that owns F1. Maffei played a key role in the takeover of F1 in 2017 and then stayed on as CEO through 2024. His successor is now known.

ENGLEWOOD, Colo.-- ( BUSINESS WIRE )--Liberty Media Corporation (“Liberty Media”) (Nasdaq: FWONA, FWONK, LLYVA, LLYVK) today announced that Derek Chang has been appointed President and Chief Executive Officer.

John Malone’s Liberty Media has named a board member and seasoned sports executive as its new CEO and president, driving ahead with a strategy of streamlining the business while capitalizing on selective growth opportunities.