The owner of Formula One announced the appointment of Derek Chang as its new CEO. Chang, a seasoned sports executive, will officially assume the role on February 1, leading Liberty’s three-member executive board alongside F1 CEO Stefano Domenicali. He replaces John Malone, who has been serving as interim CEO since Greg Maffei stepped down in November.
Malone expressed enthusiasm for Chang’s appointment, stating, “His expertise in both operating and investment roles, extensive understanding of our industries, and familiarity with Liberty make him the ideal leader for Liberty’s next chapter.” Chang is expected to play a pivotal role in Liberty’s ongoing initiatives, particularly its investments in motorsports like Formula One and MotoGP. Liberty had seized MotoGP in April but has yet to complete its official acquisition.
A key part of Chang’s agenda will also involve Liberty Media’s plans to spin off Liberty Live Group as an independent public entity. This move will grant Liberty ownership of approximately 70 million shares in Live Nation Entertainment, a major U.S.-based concert promotion company. Speaking about his vision, Chang noted, “Our current focus is clear: optimizing the portfolio structure with the split-off of Liberty Live and supporting the growth of our attractive operating assets, including F1 and MotoGP post-acquisition, to continue their momentum and invest for the future.”
Chang will step down from his role as executive chairman of EverPass Media, a platform he co-launched with the NFL to provide premium sports content to commercial establishments. His leadership experience includes serving as CEO of NBA China from 2018 to 2020 and holding key positions at DIRECTV, Charter Communications, and the YES Network. He has been a director with Liberty since 2021, further cementing his familiarity with the organization.
With Chang at the helm, Liberty Media aims to strengthen its portfolio and maintain its momentum in motorsports and entertainment. His extensive background and strategic vision mark the beginning of a promising new era for Liberty Media.
