Formula 1 owner Liberty Media has announced its president and CEO Greg Maffei will leave his role by the end of 2024.Maffei, who joined the American investment firm in 2005 and became its CEO in February 2006, will depart from Liberty Media after opting not to renew his expiring contract.
He will be replaced on an interim basis by Liberty Media’s chairman John Malone, and according to the company he will stay on as a senior advisor to help smoothen the management transition.
In his role Maffei has been a driving force behind the firm's acquisition of F1 in 2017, helping transform the series into a global and modern entertainment powerhouse.
Earlier this year Liberty also announced it would acquire MotoGP and add it to its wide range of entertainment properties.
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