Stefano Domenicali is set to join Formula 1 as new CEO. Prior to this Domenicali has been serving as team principal of Ferrari and CEO of Lamborghini. Ferrari won its last world title as constructor under Domenicali in 2008.

According to the media reports no contract has been signed yet in this regard. However, all team bosses have already learnt of the news.

In the recent past, Chase Carey has been performing as CEO and chairman of F1. But as per new arrangement he will stay as chairman only and facilitate the new CEO. The American group Liberty Media appointed Carey in 2017 when they group purchased F1. Carey convinced 10 teams to sign the new Concorde Agreement for safety and better organisation of motor-sports.