Bernie Ecclestone ousted from role as CEO of Formula 1

FOX Sports

An era has ended with the news that Bernie Ecclestone has been disposed as CEO of the F1 Group by new owners Liberty Media. He has been replaced by former FOX executive Chase Carey.

The changes occurred at a crunch meeting in London on Monday, and are expected to be formally confirmed on Tuesday. He has been offered the title of Honorary President but will have no formal role.

It’s understood that the appointment of Ross Brawn in a sporting role at the F1 organization will also be confirmed, along with former ESPN man Sean Bratches on the commercial side.

“I was deposed today,” Ecclestone told German publication Auto Motor und Sport. “This is official. I do not run the company any more. My position has been taken over by Chase Carey.

“My new position is now an American expression, a kind of honorary president. I have this title without knowing what it means.

“My days in office are now somewhat calmer. Maybe I’ll come to a Grand Prix. I still have a lot of friends in the Formula One. And I still have enough money to be able to afford a visit to a race.”