Greg Maffei, CEO of Liberty Media, which has a majority stake in Formula 1, will leave his position when his current contract expires at the end of this year.
John Malone, chairman of Liberty Media’s board of directors, will assume the responsibilities of CEO on an interim basis. At the same time, Maffei will remain in the company – from January 1, 2025, he will take on the position of senior consultant and help Liberty Media form a new management structure.
Greg Maffei: “The nearly twenty years I have led Liberty Media have been incredibly rewarding, stimulating and endlessly fulfilling. The corporate structure is streamlined and portfolio companies, led by talented management teams, enjoy strong positions in their respective fields.
It is not easy to leave a dynamic company like Liberty Media, but I am convinced that this is the right time.”
John Malone: “On behalf of the Liberty Media Board of Directors, I would like to thank Greg for his leadership, creativity and dedication. Since joining in 2005, Greg has led the evolution of Liberty Media’s life cycle. He expanded our asset base and made the company better and more valuable to shareholders, all while overseeing up to five separate publicly traded companies.
I wish Greg the best of luck in his new chapter and appreciate his support as an advisor.”
Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
