P1racenews AI automatic summary:
Liberty Media has appointed Derek Chang as its next president and CEO, taking over from Greg Maffei, who announced he was stepping down last November. Chairman John Malone will continue in the role on an interim basis until the start of February.
“Liberty Media has announced the appointment of Derek Chang as president and CEO of the media conglomerate, effective February 1, 2025. Chairman John Malone will serve in an interim role until then. Chang will succeed Greg Maffei, who now holds an advisory role on the company’s board. With vast experience in global media, sports, and entertainment, Chang has been a Liberty Media director since March 2021. Previously, he was executive chairman of EverPass Media and CEO of NBA China.”
“Malone expressed excitement over Chang’s appointment, citing his expertise and leadership qualities as ideal for Liberty Media’s future. Chang, a Stanford MBA graduate and Yale alum, was recognized as one of the “50 Most Influential People in Sports Business.” Upon his appointment, Chang emphasized his admiration for Liberty’s history of value creation and outlined a clear focus on portfolio optimization and growth of operating assets.”
“He highlighted the need for continued momentum and future investments in assets like F1 and MotoGP. Chang also pointed out Liberty’s long-term investment approach and agility in seizing new opportunities, asserting that these principles will guide the company’s strategy moving forward.”
