Chairman of F1 owners steps down as replacement confirmed

The chairman of Liberty Media who was crucial to the company's purchase of Formula 1 will step down from his role at the start of 2026.

John Malone was essential to the purchases of F1 and MotoGP in recent years as part of Liberty's expansion across the last decade.

Liberty already have a replacement lined up with Robert R. "Dob" Bennett taking over once Malone stands aside. Malone will be installed as chairman emitrus once Bennett starts his new role.

Malone's contribution to Liberty's success with F1 should not be understated. With F1's mainstream popularity surging since the company's 2017 takeover following the pioneering annual documentary of F1 in Drive to Survive that has helped the sport grow its appeal to casual fans.

“Founding Liberty Media and serving as its chairman has been among the most rewarding experiences of my professional life,” said Malone.

“With the successful simplification of our portfolio in recent years and our operating businesses in positions of strength, I believe it is an appropriate time to step back from certain of my obligations, and I am very pleased to have Dob Bennett, my partner and colleague of 35 years, stepping into the chairman role.

"Dob has been involved in all key decisions throughout Liberty Media’s history, and I am confident that Liberty is well-positioned for the future. I look forward to remaining actively engaged as a large Liberty shareholder and a strategic advisor to our management and board.”

New Liberty Media chiefs lined up

Bennet's new role will see him working alongside current president and CEO Derek Chang as well as former F1 CEO Chase Carey, who took a more behind the scenes role in F1 after initially being seen at many races.

“I want to thank John for more than three decades of partnership and mentorship," said Bennett. "His legacy as a visionary business leader is without parallel and I am deeply grateful for his confidence.

"I speak for the entire board in thanking John for his extraordinary leadership as our chairman and for his continuing engagement as chairman emeritus."

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