Photo: Lamborghini
Stefano Domenicali is no stranger to Formula 1. The 55-year-old Italian joined Ferrari after graduating from the University of Bologna, and at one point, he was the head honcho of the Prancing Horse on the track.
Domenicali reigned in 2014 following a few years of underwhelming results, heading to Audi that same year. Lamborghini hired Domenicali as chief executive officer in 2016, and now he’s leaving the Italian automaker for a greater role in Formula 1. As the headline implies, Chase Carey will step down after four years as CEO, moving to the role of non-executive chairman.
“Chase has done a phenomenal job leading F1,” said Greg Maffei, the prez and chief exec of Liberty Media. “He has been a great partner and I look forward to his continued counsel. Domenicali brings a rich history of success in F1 at Ferrari and the broader auto industry at Audi and Lamborghini.”
Lamborghini has also confirmed the news in a statement but didn’t announce who will take his role from January 2021. There are plenty of executives in the Volkswagen Group compatible with this position, but it’s hard to pinpoint someone who’s better than his peers at the helm of the brand.
Looking at the bigger picture, Domenicali will have it easy in the first year because the Concorde Agreement has been signed by all teams, providing all-around stability for the motorized sport from the 2021 to the 2025 seasons. The new CEO will have it harder in 2022 when new technical regulations will take effect. Changes include different tires, a series of standardized components, the removal of the MGU-H system, and the return of ground effects.
During his tenure at the Raging Bull of Sant’Agata Bolognese, Domenicali “has guided the company through a period of exception transformation.” One of the biggest improvements to the Italian automaker’s fortunes is the Urus super utility vehicle, which has opened the brand to new customers.
“Chase has done a phenomenal job leading F1,” said Greg Maffei, the prez and chief exec of Liberty Media. “He has been a great partner and I look forward to his continued counsel. Domenicali brings a rich history of success in F1 at Ferrari and the broader auto industry at Audi and Lamborghini.”
Lamborghini has also confirmed the news in a statement but didn’t announce who will take his role from January 2021. There are plenty of executives in the Volkswagen Group compatible with this position, but it’s hard to pinpoint someone who’s better than his peers at the helm of the brand.
Looking at the bigger picture, Domenicali will have it easy in the first year because the Concorde Agreement has been signed by all teams, providing all-around stability for the motorized sport from the 2021 to the 2025 seasons. The new CEO will have it harder in 2022 when new technical regulations will take effect. Changes include different tires, a series of standardized components, the removal of the MGU-H system, and the return of ground effects.
During his tenure at the Raging Bull of Sant’Agata Bolognese, Domenicali “has guided the company through a period of exception transformation.” One of the biggest improvements to the Italian automaker’s fortunes is the Urus super utility vehicle, which has opened the brand to new customers.
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