New boss for F1: Greg Maffei leaves as CEO of Liberty Media

Liberty Media, the owner of Formula 1's commercial rights, will have a new CEO. Greg Maffei, the current top boss, will step down at the end of 2024. His interim successor is John Malone. He will take office on an interim basis.

Maffei will step down at the end of this year and will act as Senior Advisor from 1 January to support the transition to new leadership. Under Maffei’s leadership, Liberty Media has grown into one of the largest media, communications, sports and entertainment companies in the world. In addition to Formula 1, Liberty Media’s portfolio also includes Formula E and MotoGP.

“On behalf of the Liberty Media board, I’d like to thank Greg for his leadership, creativity and dedication,” said John Malone. “Since joining in 2005, Greg has been at the forefront of the exciting evolution in the lifecycle of Liberty. He has grown our asset base and made the company better and more valuable for shareholders, along the way overseeing as many as five separate public companies simultaneously."

With Malone acting as interim, it is likely that the company will seek a permanent successor to Maffei. His further plans – beyond advisory – are also unknown.