CVC appoints Directors to the Board of the Formula One Group

Dec 18, 2014 12:00am UTC

Paul Walsh (GBR) CEO Diageo. Formula One World Championship, Rd 7, Monaco Grand Prix, Monte-Carlo, Monaco, 26 May 2006. © Sutton Images

Niki Lauda (AUT) Mercedes AMG F1 Non-Executive Chairman and Peter Brabeck-Letmathe (AUT). Formula One World Championship, Rd5, Spanish Grand Prix, Qualifying, Barcelona, Spain, Saturday, 10 May 2014. © Sutton Images

CVC, the controlling shareholder of the Formula One Group, today announces three appointments to the Board of the Formula One Group.

Luca di Montezemolo and Paul Walsh have been appointed as Non Executive Directors, with effect from 1st January 2015.

Luca di Montezemolo was previously Chairman of Ferrari, a position he held from 1991 until 2014. Mr di Montezemolo previously served as a Non Executive Director of the Formula One Group between 2012 and 2014 in his prior capacity as the representative of Ferrari.

Paul Walsh was formerly CEO of Diageo plc, the global leading drinks business, from 2000 to 2013. He is currently Chairman of Compass Group, as well as a Non Executive Director of FedEx Corporation and Unilever plc.

Bernie Ecclestone has been reappointed to the Board and will continue as CEO of the Formula One Group.

Peter Brabeck-Letmathe will continue to serve as Chairman of the Board.

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