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Formula One Group initiates board shake-up
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Formula 1's new owners will begin management changes at the helm of the sport next week, starting with a complete shake-up of its board of directors. According to Sky Sports, all of the existing board members of F1's parent company will be replaced, with the exception of former chairman Peter Brabeck-Letmathe. Prominent figures such as WPP's Sir Martin Sorrell, former Unilever CFO Jean-Marc Huet and former Exxon Mobil Asia boss Chong Seng Kwa will no longer have any involvement with the sport's new commercials rights holder. CVC Capital Partner's Donald Mackenzie, who spearheaded the private equity company's lucrative investment in F1 in 2005, will remain a company director along...
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