Formula 1 appoints new chief executive

Baku. 24 January. REPORT.AZ/ Bernie Ecclestone announced his retirement as Formula 1 chief executive.

Report informs, he told Chase Carey was appointed to his position.

“My new position is one of those American terms. It’s something like an honorary president,” Ecclestone said, via Motorsport.com. “I have this title now, even though I don’t know what it means.”

Notably, 87-year-old Bernie Ecclestone leads Formula 1 during 40 years. Liberty Media corporation acquired company’s shares in September 2016.