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CVC backs Ecclestone and appoints Montezemolo to F1 board
Bernie Ecclestone with Luca di Montezemolo
CVC Capital Partners, the controlling shareholder of the Formula One Group, has announced the appointment of former Ferrari chairman Luca di Montezemolo and former Diageo chief executive Paul Walsh to the board, and confirmed that Bernie Ecclestone will continue as the sport’s chief executive.
CVC made the announcement Thursday following weeks of speculation surrounding the future make-up of the governance of F1. Walsh had been linked to becoming the new chairman of the Formula One Group, an appointment that has been interpreted as one that would weaken Ecclestone’s powerbase.
Recent reports had suggested that Peter Brabeck-Letmathe, who also...
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11y ago from GrandPrix247.com
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