Bernie Ecclestone’s time as head of Formula 1 has come to an end after 40 years.
New owners Liberty Media have replaced him after completing its $8bn (7.4bn euro) takeover of the sport. The new CEO is to be American Chase Carey.
Liberty Media Names Chase Carey as Formula One CEO, Replaces Bernie Ecclestone https://t.co/xvjJJp85iq— LEADership (@Lead_ership) January 24, 2017
Ecclestone was central in turning F1 motor racing from a relatively minority activity into one of the world’s richest television sports.Through his negotiating skills and business acumen he ended up in a position of almost absolute power.
He opened up new destinations such as Azerbaijan and Bahrain, that were prepared to pay handsomely to host a round of the championship.
But his critics say he focused too much on maximising profits rather than developing the sport.
Bernie, mega job! But a change has been overdue. Mr. Carey, all the best in making our sport awesome again. 👍— Nico Rosberg (@nico_rosberg) January 23, 2017