F1 owner Liberty Media confirm new CEO: here's who will replace John Malone
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Chang is a veteran in the media, sports, and entertainment industries. He has led operational, business development, and investment teams at major companies during various growth phases, including EverPass Media, the NBA, DIRECTV, Scripps, Charter, and TCI. He has also served as a director of Liberty Media since March 2021, giving him extensive knowledge of the operations and corporate history of the American giant.
Liberty Media Chairman John Malone stated: “I am thrilled to welcome Derek as CEO of Liberty. His experience in both operational and investment roles, his deep understanding of our industries, and his familiarity with the company make him the ideal leader for our next chapter. Personally, I have worked with Derek for over 25 years and have always been impressed by his leadership style, breadth of expertise, and global perspective. I look forward to supporting him and the entire management team as we continue to enhance value for our shareholders.”
Derek Chang added: “I have had the privilege of working with John Malone and the Liberty team for many years during my tenure at TCI and DIRECTV, and later as a board member of Starz and Liberty. I have long admired their track record of creating value for investors and partners. Our current objective is clear: optimize the portfolio structure with the spin-off of Liberty Live and support the growth of our exciting operating assets, including F1 and MotoGP following the acquisition, to maintain their momentum and invest for the future. Looking ahead, Liberty has always embraced a long-term mindset in its investment mandate while being agile in seizing new opportunities. Both of these elements will remain integral to our future strategy.”
As noted above, Chang will officially take office on February 1, 2025. John Malone, current Chairman of Liberty Media, will serve as interim CEO until then. Chang will also join Liberty Media’s Executive Committee alongside Malone, Vice Chairman Dob Bennett, and Chase Carey. Additionally, Stefano Domenicali, President and CEO of Formula 1, will report to a Liberty Media board committee comprising Bennett, Carey, and Chang.
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