Ecclestone stepped down from F1 board in January until bribery case in Germany was concluded; Ex Ferrari president Luca di Montezemolo and former Diageo boss Paul Walsh appointed non-executive directors
Thursday 18 December 2014 17:13, UK
Bernie Ecclestone will continue as chief executive of the Formula 1 Group, the sport’s commercial rights holders CVC have announced.
Ecclestone, who has been the sport’s supremo for over three decades, has also been reappointed to the board of the Formula One Group. The 84-year-old had stood down from the board in January after being indicted on bribery charges by a German court.
The trial was settled in August after Ecclestone agreed to pay state prosecutors around £60m.
Peter Brabeck-Letmathe will continue as the board’s chairman, while Paul Walsh, the former chief executive of Diageo, has also been appointed to the board in a non-executive position.
Luca di Montezemolo, who was Ferrari president for two decades prior to his resignation in September, also joins the board in a non-executive capacity. The Italian served in the same position between 2012 and 2014 as the team’s representative.
Like Ecclestone, Montezemolo is an outspoken critic of F1's new 'greener' regulations, complaining at the start of the 2014 campaign that the need for fuel conservation would turn the sport's protagonists into "taxi drivers - and I say that with the greatest respect to taxi drivers."
