New Leadership at Liberty Media: A Bold Step for the Giant Behind Formula 1

Liberty Media has revealed that Derek Chang will take the reins as president and CEO, ushering in a new chapter for the media giant behind Formula 1. Chang is set to officially begin his tenure on February 1, 2025, with current chairman John Malone filling the role temporarily until then.

Chang will succeed Greg Maffei, who resigned last November and transitioned to an advisory position on Liberty Media’s board as of January 1. A seasoned professional with a rich background in global media, sports, and entertainment, Chang has served on Liberty Media’s board since March 2021. Before this, he held prominent positions, including executive chairman of EverPass Media, a venture tied to the NFL, and CEO of NBA China from 2018 to 2020.

Malone expressed enthusiasm about Chang’s appointment, highlighting his extensive expertise across operations, investments, and the broader industry landscape. He noted that Chang’s deep understanding of Liberty Media’s sectors and his proven leadership make him an excellent choice for the company’s future growth. Reflecting on their long-standing professional relationship, Malone underscored Chang’s impressive global outlook and ability to steer strategic initiatives.

Chang, who holds an MBA from Stanford University and a bachelor’s degree in history from Yale University, has been recognized among the “50 Most Influential People in Sports Business” by the SportsBusiness Journal. Upon his confirmation as CEO, Chang emphasized his admiration for Liberty Media’s history of creating value for investors and partners. His vision includes refining Liberty Media’s portfolio with the upcoming separation of Liberty Live and accelerating growth for key assets like Formula 1 and MotoGP.

Chang also emphasized Liberty Media’s unique approach to investments, which balances long-term strategic thinking with the agility to seize emerging opportunities. This dual focus, he remarked, would remain central to the company’s ongoing strategy as it moves forward.

Have you read?
Richest Countries In Europe In 2024.
Most Attractive Countries To Private Equity, Venture Capital, and Hedge Fund Investors.
Revealed: Highest-paid news media executive in the United Kingdom.
Countries Leading the Way on Climate Change.
World’s Best Countries For Adventure Tourism.