Formula 1’s organizational structure is undergoing a significant transformation as Stefano Domenicali, the sport’s president and CEO, will now report directly to a newly formed executive committee following the appointment of Derek Chang as Liberty Media’s new Chief Executive Officer.
Chang steps into the role on February 1, succeeding Greg Maffei, who departed at the end of 2024. During the interim period, Liberty chairman John Malone had taken over the responsibilities, but Chang’s confirmation signals a long-term vision for Liberty’s future, including its flagship asset, Formula 1.
Derek Chang: The Insider-Turned-Leader
The selection of Chang is seen as an internal promotion, given his role as a director of Liberty Media since 2021. However, his impressive resume extends beyond Liberty, with executive positions at EverPass Media, the NBA, DIRECTV, Scripps, and Charter Communications. This breadth of experience uniquely positions him to steer Liberty Media’s wide-ranging portfolio.
Chang’s leadership will feature collaboration with Malone, Dob Bennett (vice chairman), and Chase Carey (former F1 CEO). Together, they form Liberty Media’s executive committee, with a specific subcommittee—comprising Chang, Bennett, and Carey—set to oversee Domenicali’s operations in Formula 1.
What This Means for Formula 1
F1 insiders suggest the new reporting structure offers Domenicali increased freedom to operate the sport’s business independently. As the face of F1’s remarkable growth in recent years, Domenicali has already been instrumental in expanding the sport’s global reach, improving fan engagement, and fostering new commercial opportunities.
By creating a more streamlined relationship with Liberty Media’s leadership, Domenicali could enjoy the flexibility needed to push F1 even further into untapped markets and develop innovations like sustainable fuel technologies and enhanced digital content.
Statements from Liberty’s Leaders
Liberty Media chairman John Malone expressed confidence in Chang’s appointment, citing his extensive industry knowledge and proven leadership skills:
“His expertise in both operating and investment roles, extensive understanding of our industries, and familiarity with Liberty make him the ideal leader for Liberty’s next chapter.”
Chang, in turn, acknowledged the importance of Formula 1 as a cornerstone of Liberty’s portfolio:
“Our current focus is clear: optimizing the portfolio structure and supporting the growth of our attractive operating assets, including F1 and MotoGP post-acquisition, to continue their momentum and invest for the future.”
What’s Next for Liberty Media and F1?
Chang’s leadership begins as Liberty Media completes the split-off of Liberty Live, an effort to streamline operations and focus on high-performing assets like F1. For Formula 1, this could mean more significant investments in global expansion, fan experiences, and environmental initiatives as the sport continues its growth trajectory.
With the upcoming 2026 regulation changes, Liberty’s strategic focus on Formula 1 will play a critical role in ensuring the sport maintains its competitive edge both on and off the track.