Ex-Ferrari Chief Stefano Domenicali 'Takes The Wheel' From F1 CEO Chase Carey

The former Ferrari team principal Stefano Domenicali is set to become the new CEO of Formula 1, replacing Chase Carey ahead of the 2021 season.

Official confirmations of Domenicali's appointment have been issued today, after teams were informed of the news on Tuesday evening.

Chase Carey will not be leaving the sport, and will remain involved in F1 beyond the end of the year as F1's non-executive chairman. He released a statement saying:

"It has been an honour to lead F1, I look forward to staying involved and supporting Stefano as he takes the wheel."

Stefano Domenicali is no stranger to the pressures of being at the top, having served as Ferrari's team principle between 2008 and 2014, whilst having been its sporting director since 1998. He played a key role in Ferrari's successful run of six consecutive constructors championship victories.

Image: F1.com

In 2014, Domenicali later joined Audi as its vice-president of new business initiatives, before moving to sister VW group brand Lamborghini in 2016 as CEO. The Italian simultaneously retained his position within the FIA as its president of the single-seater.

Domenicali will now make a return to F1 as the series' new boss in place of Chase Carey, who has been F1's CEO for what will be a three-and-a-half year period.

Chase Carey was appointed chairman of F1 after Liberty Media purchased the sporting rights in September 2016, he subsequently became CEO in January the following year.

Throughout Carey's time as CEO, he has managed to complete the new Concorde Agreement. An agreement which is set to bring about more equal distribution of income, and under-pining further drives towards a more sustainable sport.

This drive is set to continue under Domenicali as he spoke earlier in the year about the sports response to the ongoing pandemic:

"This is a take it or leave it opportunity, and you cannot leave it, you need to take it. I see this as an opportunity for the motorsport industry to reshape."

Chase Carey will officially step down becoming F1's non-executive chairman, whilst Stefano Domenicali will take his place as CEO of F1 in January 2021.