Who is Liberty Media’s new CEO? F1 owner name Greg Maffei replacement

F1 owner Liberty Media has appointed Derek Chang as its new president and CEO.

The announcement comes following Greg Maffei’s departure last year. Maffei, who helped Liberty complete its takeover of F1 back in 2017, confirmed he would be stepping down from the position in November.

Chang, an executive who has a background in media sports and entertainment, will assume the position as president and CEO from 1 February.

He most recently worked for EverPass Media, a company which supplies live sport - including the NFL in the United States and Premier League football in England - to business and commercial establishments.

Chang’s resume also includes spells at DIRECTV and NBA China.

Chang will form a three-man Liberty executive board including Chase Carey and Dob Bennett, who F1 president and CEO Stefano Domenicali will directly report to.

Liberty followed up their acquisition of F1 with a bid to takeover motorbike’s premier racing series MotoGP in a reported £3.2bn deal which remains subject to approval from the European Commission.

The American media conglomerate hopes to bring new audiences to MotoGP and boost the championship’s profile to replicate the boom F1 has enjoyed in recent years.

Chang has vowed to "support the growth of our attractive operating assets, including F1 and MotoGP post-acquisition, to continue their momentum and invest for the future".

Liberty Media chairman John Malone said: "I am thrilled to welcome Derek as the CEO of Liberty Media. 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.

"Personally, I have worked with Derek for over 25 years and am consistently impressed by his leadership style, breadth of expertise and global perspective. I look forward to supporting him and the Liberty management team as they continue to drive shareholder value."