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Greg Maffei, CEO of Formula 1’s owner Liberty Media, will step down from his position at the end of the year as the business simplifies its corporate structure. Liberty currently owns Formula 1 amo…
Greg Maffei, CEO of Formula 1’s owner Liberty Media, will step down from his position at the end of the year as the business simplifies its corporate structure. Liberty plans to separate its ticketing and live entertainment group, Liberty Live, from its sports investments like F1 and MotoGP. Maffei has been CEO since 2006, but with the restructuring, he has opted not to renew his contract. He will remain a senior advisor, and chairman John Malone will take on the CEO duties temporarily. Maffei expressed his satisfaction with his almost 20-year tenure and is confident in the company’s optimized corporate structure. Under Maffei’s leadership, Liberty Media took over F1 in 2017 and helped the sport expand, achieving record viewing figures in the United States. Malone praised Maffei for his contributions and dedication, wishing him success in his future endeavors.
